Front month soy futrues are adding 11 1/2 to 23 cents a bushel to the upside through midday. Soymeal futures are also in the black with $4.20 to $4.80/ton gains. BO futures are 2.2% to 2.94% higher leading the complex. USDA announced a large soy oil purchase for 33,000 MT to India via the mandatory reporting system. Soybean bookings for the week ending 10/29 were on the high end of estimates with 1.530 MMT sold. That was down 6% wk/wk and 13% below the same week last year. China was the top purchaser, however most of the reported business (71%) was switched from previously unknown destinations. Bean exports in the weekly report were 2.53 MMT (92.9 mbu). That brough MYTD shipments to 611.7 million bushels. Meal sales were reported at 331k MT, up 66% wk/wk and 26% yr/yr. USDA’s Export Sales report had 6,824 MT of bean oil sales. BO shipments were 22.9k MT, with most (59%) headed for South Korea. NOAA’s 30 day QPF shows Brazilian rainfall capped at 200 mm over the next month. Most of Mato Grosso and Rio Grande de Sul are expected to receive 50-150 mm. According to NOAA that is at least a 30 mm deficit from average, with some pockets in minus 210 mm territory.

--- provided by Brugler Marketing & Management