Linn Group Morning Soybean Comment

CHICAGO - Nov 13/06 - SNS -- Following is the morning soybean futures comment from the futures commission brokerage firm Linn Group.

Soybean Update: Soybeans closed defensively on Friday down 7 cents but
overnight the market had an 11 ½ cent range closing that session up 8 ¼
cents. The weekly commitment of traders report was not released on Friday
due to the Veterans day Holiday and will be released today. Funds were on
the sell side on Friday selling 3,000 Soybeans 1,600 Meal and 1,100 Oil.
South American planting is progressing with Brazil reporting 49% complete
vs. 47% last year and Argentina reporting progress at 30% vs. 32% last year.
NOAA issued a report on Friday saying El Nino conditions are likely to
continue into the Spring of 2007 in the Northern Hemisphere producing warmer
than average temperatures in the Northern U.S. Chinese Soybean and Meal
futures closed higher and Oil Lower. Malaysian Palm oil futures closed
higher.

eCBOT Overnight

Contract            Last      Net Change       High      Low

ZSX6                 657^4    6^2                   657^4    653^6

ZSF7                671^0    8^4                   671^4    660^2

ZSH7                681^4    7^0                   683^6    672^4

ZSK7                689^2    7^4                   691^2    678^2

ZSN7                697^4    7^0                   699^0    689^6

ZMZ6                197.8    2.3                    197.9    194.5

ZMF7                199.0    2.3                    199.1    195.4

ZMH7                201.0    2.2                    201.0    197.7

ZLZ6                 27.90    0.21                  27.90    27.55

ZLF7                 28.19    0.12                  28.29    27.98

ZLH7                 28.53    0.07                  28.65    28.46

Opening Calls: higher 6 to 8c

Top News

-- Celeres Weekly Report:  Brazil's soybean planting 46% complete, +2% pts
faster than last year, +14% pts from last week

-- Celeres Weekly Report:  Brazil new soybean crop 26% sold, approximately
14 mil bu total - 5 yr avg = 30% sold

-- Funds moved to the sell side Friday. Funds sold 3,000 Soybeans, 1,600
Meal, 1,100 Oil.

-- Deliveries: Retender of 1,509 CBOT Nov Soy Delivery Notices thru
11/10/06; Term stopper  616.

-- Soybean spreads:  Bunge 600 SN/SF, ABN 300 SX/SF, Term 300 SX/SF, Tenco
300 SK/SX7

Cash Markets

-- CIF Soybeans steady.  Nov. +48 to +52, LH Nov. +51 to +55, Dec. +58 to
+60, Jan. +61 to +66, Feb. +48 to +53. Mar. +40 to +50

-- Processors:    Decatur  -10F    Danville -15   Bloomington  -14F  Gibson
City  -14F

-- Board Crush Margins:     Jan. 79.01 up  .84   Mar. 75.92 up  .15



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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