Soybean futures are fractionally to a penny per bushel lower this morning. They closed Turnaround Tuesday with 9 to 9 3/4 cent losses, after being higher for most of the morning. July soy meal was down $2/ton, with soybean oil 36 points lower. A rumor that $2/bu trade aid for soybeans is being considered was negative for futures prices yesterday. USDA released a comment that the new program will be acreage neutral. After Monday’s close, the Crop Progress report indicated IA was 27% planted, with MN at 10% complete, SD only 4%, IL 9% and NE 40% in the ground.
--provided by Brugler Marketing & Management