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Analysts Predict Heavy Soybean Deliveries Against CBOT

Deliveries against the November soybean contract may be from 500 to 1,500 lots.

Analysts say deliveries against the Chicago Board of Trade November soybean contract will be heavy on first notice day Tuesday.

Deliveries should come in between 500 and 1,500 lots, analysts say. Most predict a final number between 800 and 1,200 lots. 2,791 contracts were registered for delivery at CBOT-approved warehouses as of Friday.

Dan Basse, president of AgResource Company, says that with no shortage of soybean supply, and with old-crop carryover inventories and new-crop supplies, heavy delivery expectations are realistic.

One CBOT broker says he sees it becoming attractive to put out supplies against the board with brisk cash sales and a tighter storage pace. "It's a matter of logistics, as commercials that are able to deliver will, while others won't expose the receipts."

Don Roose, of U.S. Commodities, sees two ways to look at deliveries: will commercials want excess ownership, or will they risk giving up supplies? Roose says it all depends on who hold the receipts.

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