Soybeans 2 to 3 Cents Higher in Turnaround Tuesday Attempt

Soybean futures are 2 to 3 cents higher in early Tuesday trading. Nearby bean futures finished 6 3/4 to 8 cents lower on Monday. Soybean meal ended $5.90/ton lower, while soybean oil posted a 21 point gain on the day. Bean harvest was in line with trader expectations, listed at 91% complete in USDA’s weekly Crop Progress report from the afternoon. Harvest progressed 6% over the previous week, a slowdown as last week had progressed 10% wk/wk. USDA’s export inspections were still ahead of last year’s pace. Export inspections for the week ending 11/14 were 1.532 MMT (56.29 mbu), compared to last year’s 1.110 MMT for the same week. The accumulated soybean exports as of 11/14 are 12.436 MMT (456.945 mbu), 12.14% ahead of last year’s pace. AgRural updated Brazilian bean planting to 67% complete, on average the country is at 70% for this time, and last year they were 82%.

--- provided by Brugler Marketing & Management

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.