Sunday, August 29, 2010

Soybean Weekly Comments



November soybeans were up 22 cents for the week as some dryness sneaks into areas of the growing belt. Dryness is showing up in parts of the eastern growing belt, along with remaining well entrenched in the Delta. Wheat had a relatively quiet week, closing up 7 cents in Minneapolis, down 5.25 cents in Kansas City, and down 16.5 cents in Chicago. The USDA attaché in Russia lowered his production forecast to 41 mmt, 4 mmt below the official August USDA estimate. (Country Hedging)

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