Soybeans Fractionally Lower

Soybeans are fractionally lower this morning ahead of USDA’s reports. Front month beans closed fractionally mixed on Tuesday. Meal futures fell back in the afternoon, closing near the lows and down by as much as 30 cents/ton. Bean oil futures ended the Tuesday session 11 to 18 points in the red. November soybeans have dropped roughly 27 cents per bushel since the July USDA report in anticipation of bearish numbers in today’s report. Ahead of USDA’s August reports, traders anticipate a higher US average bean yield of 51.2 bpa on average. The average pre-report estimate for new crop production is 4.259 bbu. Analysts expect a 101 mbu bump to new crop stocks, with the average of estimates at 526.3 mbu. CONAB lowered their soybean production estimate slightly to 120.883 MMT. --- 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.