date:Jun 04, 2013
July/November spread found some support this morning following positive export sales data from the meal market but broke lower late in the session. Support came from planting delays and the possible negative impact on yield as a result.
Net weekly export sales for soybeans came in at -108,000 tonnes for the current marketing year and 756,600 for the next marketing year for a total of 648,600. As of May 23rd, cumulative sales stand at 99.5% of the USDA forecast vs. a 5 year average of 97.5%. Sal