Soybean Market Update (Jun 26, 2017)

Soybean prices raised higher in the international market. The most active soybean contract on Chicago Board of Trade increased to 0.4 percent to $9.08 – 1 /4 a bushel which was closed by little change on Friday. According to the traders, they expect the soybean stocks of 983 million bushels which would be highest figure of June 1 since 2007 and it would be the third highest on record. Weekly U.S. export sales of soybeans, corn and wheat were generally under control with estimates, or worse.

Also on Friday, the corn and soybean prices were decreased as more mild temperatures moved into the U.S. Midwest crop belt. CBOT July soybean prices settled to 14-3/4 percents lower at $9.04 per bushel which is lowest since March 2016. The November soybean contract, which reflects the autumn U.S. harvest which was eased by 14-1/2 percents to $9.13-1/4 per bushel.

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