Soybeans Up 3 to 4 Cents Overnight

Soybeans futures are 3 1/2 to 4 1/2 cents per bushel higher in the nearby contracts in early trading Wednesday. Meal futures are up $1.20/ton and soy oil is up 17 points. Preliminary open interest for soybeans rose 3,168 contracts on Tuesday, suggesting some light buying interest. Losses in soybean crop ratings last week helped to support the market Tuesday. Monday’s conditions by state showed Brugler500 ratings up 7 points in IL, 5 in SD, and 2 points higher in IN. Conditions in IA were down 5 points, with MO 4 points lower and NE down 3. Results from day two of the Midwest Crop Tour had pod counts in Nebraska down 7% from last year. The average count in Indiana was down 30%. Source: 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.