Linn Group Morning Soybean Comment

CHICAGO - Sep 14/06 - SNS -- Following is the morning soybean futures comment from the futures commission brokerage firm Linn Group.

Soybean Update: Soybeans managed to close 2 cents higher on Wednesday after
posting new contract lows on Tuesday. Overnight we traded an additional 3 ¾
cents higher.  It was a low volume quiet inside day. One trader said it was
more a respite than a change in trend. Early commercial and fund buying in
beans helped stabilize prices, but the oil market is where the volume was
with commercials buying and funds joining in. September futures expire
today. Weekly export sales released today were at 741,000 mt. above analysts
estimates of 500,000 to 600,000. NOPA on Thursday said U.S. soy crush in
August totaled 134.674 million bushels, above an average trade estimate for
132.7 million. Funds on Wednesday bought 3,000 Soybeans, 500 meal and sold
2,000 Oil. Commercials were buyers of Oil. Malaysian Palm oil futures closed
lower.


Opening call: up 2 to 4 cents.


eCBOT Overnight
Contract            Last      Net Change       High      Low
ZSX6                 544^2    3^6                   545^0    540^4
ZSF7                556^0    2^0                   556^4    554^0
ZSH7                569^6    4^0                   569^6    566^4
ZSK7                579^2    4^2                   579^2    575^6
ZMV6                158.5    1.2                    158.5    157.3
ZMZ6                160.2    1.3                    160.2    158.8
ZLV6                 24.66    0.03                  24.81    24.64
ZLZ6                 25.14    0.12                  25.20    25.03


Top News
**USDA Soybeans 06/07 Export Sales Net: 741,000 mt vs estimate range of
500-600,000 mt.
**USDA Soybean Meal 05/06 Export Sales Net: 63,000 mt vs estimate of
75-100,000 mt.
**USDA Soybean Oil 05/06 Export Sales Net: 3,200 mt vs estimate range of
5-10,000 mt

*NOPA Aug Soybean Crushing 134.67 mln Bu vs July's 142.63 mln bu
*NOPA Aug Soymeal Exports: 480,326 T vs July 565,744 T
*NOPA Aug Soyoil Stocks: 2.67 bln lbs



Cash Markets
-- CIF Soybeans up 3 to 5. Sept. +62 to +69, LH Sept. +64 to +70 Oct. +62 to
+66, Nov. +69 to +75, Dec. +58 to +62, Jan. +63 to +70.
-- Processors: Decatur -10 Danville -10 Bloomington -20 Gibson City -20
-- Board Crush Margins: Sept. 85.67 up 3.19 Oct. 76.49 up 2.84 Jan. 77.40 up
.75

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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