Soybean Market 4 to 5 cents Higher
BRUG - Tue Aug 13, 7:27AM CDT

Soybean futures are 4 to 5 cents higher this morning on Turnaround Tuesday fading after Monday weakness. August soybean meal was down $4.80/ton, with soy oil 13 points higher. The NASS resurvey of producers shows 76.7 million acres planted to soybeans, down 3.3 million from the June survey. FSA data also shows producers enrolling 4.351 million acres for soybean prevent plant as of August 1. USDA left projected yield unch from July at 48.5 bpa, taking production to 3.68 bbu (-165 mbu) on the smaller acreage. WAOB raised old crop ending stocks for the US by 20 mbu to 1.07 bbu, with new crop down 40 mbu to 755 mbu. World soybean carryout was up 1.55 to 114.53 MMT for old crop, with new crop down 2.79 to 101.74 MMT. The weekly Export inspections were 62% larger than last year at this time. Crop Progress data showed 82% of the soybeans blooming as of Sunday (93% avg), with 54% setting pods (76%). Condition ratings were unch on the gd/ex score at 54%, as the Brugler500 was down 1 to 346.

--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
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

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.