Soybean Market 3 to 4 Lower This Morning
BRUG - Tue Jun 11, 7:28AM CDT

Soybean futures are 3 to 4 cents lower since ending the Monday session with most contracts 2 to 3 cents higher. The US stock market continues to rally, attracting trading capital. Soymeal was up $1.10/ton, with bean oil UNCH on the day. The USDA showed that 714,627 MT of US soybeans were shipped in the week of June 6, according to the Export Inspections report. That was 40% larger wk/wk and 5.77% above the same week last year. Of that total 402,854 MT was headed to China. The weekly Crop Progress report indicated that 60% of the US soybeans crop was planted by Sunday. That was still 28% behind normal, with 34% emerged vs the 73% average. Chinese customs data showed 7.36 MMT of soybeans imported in May, down 24.05% from last year. Much of the decline is due to the reduced need to hog feed.

--provided by Brugler Marketing & Management




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