Soy Complex Finds Election Day Strength

Turnaround Tuesday soybean trading left front month futures 8 1/4 to 12 1/2 cents stronger on the board. Soymeal futures closed the day with $2 to $2.80 gains. BO futures closed 57 to 59 points in the black. January No.1 soybean futures on the Dalian Grains Exchange were a life of contract high 5,093 yuan/MT ($22.54/bu). That is below the July highs, of near 6,307 yuan/MT, but otherwise the highest since July of ’08. CmdtyView lowered their national bean yield for November by 4/10 of a bushel to 50.14/acre. NE bean yields are forecasted the highest at 61.67 with 33.10 bushels/acre as the low in ND. That cut cmdtyView’s production forecast to 4.157 billion. Ag Rural said Brazilian soybean planting advanced 19% on the week to 42% complete as of 10/29. That is equivalent to planting 1 million hectares per day. The average was to be 44% planted.

Nov 20 Soybeans closed at $10.59, up 8 1/4 cents,

Jan 21 Soybeans closed at $10.64 1/4, up 12 cents,

Mar 21 Soybeans closed at $10.57 3/4, up 12 1/2 cents,

May 21 Soybeans closed at $10.54 3/4, up 12 cents,

Dec 20 Soybean Meal closed at $377.20, up $2.10

Dec 20 Soybean Oil closed at $33.78, up $0.59

--- provided by Brugler Marketing & Management




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