Soybean Market Update (Jun 16, 2017)

Soybean prices on U.S processing raised higher in the international market on Friday. Soybeans made progress higher than expected crushing in May on behind of strong demand in the United States. The most active soybean contract on Chicago Board of Trade increased to 0.5 percent to $9.39 a bushel. Also, for this week, the market is down by 0.2 percent, after making profits more than 2 percent in the last week.

According to the National Oilseed Processors Association's, the May soybean crushings in U.S were heavier than expected with plants in eastern Midwest and southwest with the U.S processors increasing their speed of processing during this month. On Thursday, the commodity funds were net buyers of soybeans and soyoil and they were net sellers of soymeal.

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