Soybeans

Soybean futures are 1 to 1 1/2 lower this morning after finishing somewhat strong on Wednesday. March settled 7 1/2 cents off the low, although up only 3/4 cent for the day. Meal futures were $1.50/ton higher, with nearby soy oil 28 points lower. Prevent plant acres in the FSA’s final report were at 435,430 acres for the 2017 soybean crop. That was well above last year’s 236,609 acres. In Brazil’s largest soybean producing state of Mato Grosso, forward sales have totaled nearly 42% of the 17/18 soybean crop, lagging last year’s pace of 55% by this time.




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