Soy futures are 9 to 11 cents higher this morning, extending Thursday’s sharp advance. Soybean futures rallied double digits yesterday and closed the day with 17 1/4 cent gains for Nov. The deferred contracts were 3 3/4 to 9 1/2 cents higher. Soymeal closed the day with $8.50 to $9.60/ton gains. BO broke the pattern for the complex, at 5 points lower. USDA’s Export Sales report showed 2.457 MMT of bean bookings for the week ending 9/10. All of the Chinese business was known through the daily announcements. Speaking of those announcements, USDA has now made them 10 days in a row. Bean export commitments are at 1.188 bbu through the first 10 days of data. That is 56% of USDA’s MY total for bean exports, on near record forward bookings, compared to the 5-yr average of 34%. La Nina dryness is setting in for Brazil and Argentina. Specifically in Brazil, D3-D4 has shown up in the NW including western Mato Grosso as farmers get ready to plant 2020/21 beans.

--- provided by Brugler Marketing & Management