Soybeans Off 2 to 5 Cents This Morning

Following Wednesday’s sell off, soy futures traded another 2 to 5 cents lower overnight. At the close Wednesday, soybean futures were 15 1/4 to 25 cents weaker. Soymeal futures closed $6.80 to $7.80/ton lower. Soybean oil futures were 59 to 69 points weaker to round out the complex. Ahead of the Export Sales report, traders are expecting 1-2 MMT of soybean sales for the week ending 10/22. Soymeal sales are anticipated to be between 100-450k MT. BO ideas are running 5,000-40,000 MT. Official EU import data shows 4.47 MMT of beans were brought into the trade bloc (plus Britain) from July 1 to October 25. That is a 4% increase from last year’s import pace.

--- provided by Brugler Marketing & Management

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