Soybeans Market Commentary

Soybean futures saw just fractional losses in most contracts on Thursday, despite pressure from a larger US carryout projection. Front month soy meal was down $1.90/ton, with soy oil 18 points lower. This morning’s Crop Production report from NASS showed US soybean yield at 52.1 bpa, down 1 bpa from October and under the average trade guess. The US production total was trimmed by 90 mbu to 4.6 bbu. US ending stocks rose to 955 mbu, 70 higher vs. October and pressured by weaker export demand. USDA had to cut projected US exports by 160 million bushels because it just isn’t happening. World ending stocks saw a 2.04 MMT increase to 112.08 MMT due to old crop revisions. USDA also reported that 388,422 MT of 18/19 soybeans were sold for export in the week of 11/1 in their weekly Export Sales report. That was slightly lower than last week and shy of expectations, with last year’s sales for the same week 66.5% larger. Soy meal sales were shown at 255,987 MT, with soy oil at 22,436 MT.

Nov 18 Soybeans closed at $8.67 1/2, down 1/4 cent,

Jan 19 Soybeans closed at $8.79, down 1/2 cent,

Mar 19 Soybeans closed at $8.92, down 1/4 cent,

Jul 19 Soybeans closed at $9.18 1/4, down 1/4 cent,

Dec 18 Soybean Meal closed at $306.10, down $1.90,

Dec 18 Soybean Oil closed at $28.02, down $0.18

--provided by Brugler Marketing & Management




Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!


Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.