Brugler Marketing & Management, LLC -

Soybean Market Fractionally Lower in Early Trade

Alan Brugler - Barchart - Tue Aug 11, 12:28PM UTC

Beans are fractionally lower this morning. Yesterday, the soy complex was higher in beans and meal, but oil closed lower. Front month soybean futures closed the Monday session with gains of ¾ to 6 1/4 cents. Meal futures were up by $2.2 to $2.5 at the closing bell. Bean oil futures closed on Monday with 7 to 16 point losses. There have still be zero deliveries vs. August beans. The oldest long is dated July 13. The weekly Export Inspections report from USDA showed that 23.4 mbu of soybeans were shipped on the week ending Aug 6. That was up 14% wk/wk but down by 11% from the same week of 19/20. The Crop Progress report last night showed that 75% of new crop beans were setting pods. That was up from 59% last week, and was 7% ahead of average. Condition ratings improved on the week, up 4 points on the Brugler500 index to 385. --- provided by Brugler Marketing & Management

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