Linn Group Morning Soybean Comment

CHICAGO - Aug 15/06 - SNS -- Following is the morning soybean futures comment from the futures commission brokerage firm Linn Group.

Soybean Update: November Soybeans ended a penny higher on Monday after
spending most of the trading session in negative territory. Traders say
yesterdays higher close was attributed to a technical bounce, stabilizing
soybeans after falling to an 8 ½ month low. November soybeans lost almost 30
cents last week caused by improving weather and an overall improvement in
crop conditions. Traders say the bigg sell off has also sparked fresh
commercial pricing helping support prices. After the close on Monday the
USDA released it's weekly crop progress report. Soybeans improved to 56%
good to excellent, up from the 53% the week before. 85% setting pods vs. 87%
last year and 77% average. Weekly export inspections for soybeans were
disappointing the USDA said Monday 5.7 mil. bu. of soybeans were inspected
for export last week below estimates for 9 to 12 mil bu. Funds on Monday
sold 2,000 soybeans, 5,000 Oil and bought 600 meal. Chinese soybean and meal
futures closed higher, Oil lower. Malaysian Palm oil futures closed mixed
with August trading higher.


eCBOT Overnight
Contract            Last      Net Change       High      Low
ZSQ6                549^6    -1^2                  551^0    551^0
ZSU6                556^0    -0^2                  556^4    556^0
ZSX6                 569^6    0^4                   570^0    568^4
ZSF7                582^2    0^0                   582^4    581^6
ZMU6                161.3    0.4                    161.3    161.0
ZMV6                162.3    0.5                    162.3    162.3
ZLU6                 25.15    0.08                  25.15    25.10
ZLV6                 25.31    0.02                  25.31    25.31

Early Opening Calls:  1 to 2 higher.

Top News
-- Soybean spreads: Rand 1,600 SU/SX, 500 SX/SU, Bunge 400 SX/SU, Term 400
SX/SU.


Cash Markets
-- CIF Corn steady up 1 .  LH Aug. +64 to +67,  Sept. +69 to +75,LH  Sept.
+70 to +??, Oct. +62 to +68, Nov. +62 to +63, Dec. +63 to +66, Jan. +52 to
+55. NS Corn  Sept. -18  FH Oct. -32  LH Oct. -28  Dec. +2  Evansville  CSX
-7

CIF Soybeans  steady  up 1.  LH Aug. +39 to +46, Sept. +50 to +55, Oct. +58
to +60, Nov. +62 to +65, Dec. +53 to +60, Jan. +60 to +65.

To discuss this report further or for specific trade ideas please contact me
directly


Nathan T. Smith III
Linn Group
nsmith@linngroup.com
toll free: (877) 787-6278
local: (312) 896-2090
fax: (312) 896-2050
www.linngroup.com/

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