Soybean Market Up 2 to 4 Cents From Monday

Soybeans futures are 2 to 4 cents higher today after settling close to UNCH on Monday. Soybean meal was up $1.30/ton, with soy oil 22 points lower. Crop Progress data showed 92% of the US soybean crop was setting pods as of Sunday compared to the 99% average. NASS also reported conditions nearly unch at 55% gd/ex, with the Brugler500 index rising 2 points to 350 on an improvement in the poorer rated crop areas. USDA tallied a total of 906,029 MT of soybeans exported in the week of 9/5, with 501,778 MT shipped after Sep 1. That was down 29.79% from the previous week and 2.3% lower than the same week last year. Of the total 408,772 MT was headed to China. The average trade guess for US soy production on Thursday is 3.577 billion bushels, as yield is seen down 1.3 from August to 47.2 bpa.

-- provided by Brugler Marketing & Management

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