Linn Group Morning Soybean Comment

CHICAGO - Sep 14/07 - SNS -- Following is the morning soybean futures comment from the futures commission brokerage firm Linn Group.

Soybeans ended Thursdays session higher by 2 ¾ cents in the November
contract. After jumping higher on the open the highs for the session were
made early and the bean market spent the remainder of the session trading in
a 5 cent range. Traders say that the gains in soybeans may not have been
impressive but with wheat down 15 ½ cents and corn down 9 ¾ cents that beans
held up pretty well. Volume was moderate to heavy, 93,690 soybeans traded,
40,382 oil and 40,700 meal. Funds bought an estimated 2,500 soybean, 2,500
oil and 500 meal.

Today the NOPA crush figures were released showing August NOPA crusa at
137.564 mil bu., expectations for the US crush for August are at 138.7 mil.
bu. prior month crush was 142.5 mil. bu. Oil stocks were reported at 2.702
bil. lbs and expectations were for 2.64 bil bu. Pior month was 2.835 bil bu.
and meal exports were 457,535 vs. 481,033 in July. Today is expiration on
the September contract in all grain markets. Overnight Chines soybean, meal
futures closed lower, Oil higher. Malaysian Palm oil futures closed higher

Early Opening Calls: 1 to 3c higher; Soymeal $1-1.50 higher ; Soyoil steady

Top News

August NOPA US Soybean Crush: 137.564 mln bu; expected 138.5 mln bu; prior
month 142.5 mln bu

August NOPA US Soyoil Stocks: 2.702 bln lbs; expected 2.64 bln bu; prior
month 2.835 bln lbs

August NOPA US Soymeal Exports: 457,535 vs 481,033 in July

-- 75.5 mln mt is the wheat production set forth by India during the 2008
season; set Oilseed production target at 29.9 mln mt, acc. to reuters

-- China's PBoC raised it's key deposit rate from 3.6% to 3.87% today, Loan
Rates will rise by 0.27 percent to 7.29% as of Saturday. Fifth rate rise in
2007 as central bank tries to harness inflationary pressures

-- Dalian Soybean futures lower May 32 yuan lower; Soymeal mixed with Jan
unchanged, but May 22 yuan lower; soyoil higher in active futures contracts.

-- eCBOT Vol. 61,902; Pit Vol. 25,931; Open Interest Change: +4,450

-- Weather:  Above Normal Temps. Above Precip West, Below Precip East. The
Corn

Belt looks mostly dry today into Tuesday.

-- Outside markets. Energy complex lower ; Gold & Silver: Dec futures
higher; US $ lower vs Euro & Yen

Cash Markets

--CIF Soybeans  up 1 to 3. LH Sept. +28 to +??, Oct. +32 to +36, Nov. +45 to
+50, Dec. +42 to +48, Jan. +47 to +50, Feb. +25 to ??, Mar. +35 to +??



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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