Soybeans Futures PricesWed, Apr 26th, 2017
Latest Brugler Soybeans Report
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Soybean futures are trading 6 to 8 cents lower in the front months. Soymeal is down $2.90 in the front month, with May 17 Soy oil20 points higher. Expected weather delays for this week in corn planting may cause soybean acreage to rise higher than first thought. As of Tuesday night, DTN reported the average soybean cash price at $8.85, which is 49.25 cents lower than last year at this time. The national average basis at -69.50 cents is 4 cents behind last year. According to reports from China, the country is planning to cut their value added tax down from 13% to 11% for agricultural products, starting July 1. This is in effort to help lower the importing costs of soybeans.
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