Soybeans 8 to 10 Higher on Snow and Freeze Risk
BRUG - Wed Oct 09, 7:31AM CDT

Soybeans futures are 8 to 10 cents per bushel higher this morning. They saw 5 to 6 1/2 cent gains in the front months yesterday, with Nov showing the highest trade since July 19th. Soybean meal was up $4.90/ton, with soy oil 24 points lower. Roughly 21% of the US planted soybean acreage for 2019 is in the Dakotas and MN, with some areas expected to see 8-16 inches of snow. Any crop losses will likely be reflected in the November Crop Production report. Ahead of Thursday’s WASDE report traders are expecting a slight yield (0.6 bpa) reduction from USDA’s September projection to 47.3 bpa. Production on average is seen dropping 50 mbu from last month to 3.583 bbu.

-- provided by Brugler Marketing & Management




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