Soybeans Market Commentary

Soybean futures closed with 5 to 7 cent losses in most contracts. Soymeal was down $4.40/ton, with soy oil 19 points lower. Private export sales reported by the USDA this morning saw 108,010 MT to Mexico (18/19), with 40,000 MT (18/19) and 80,000 MT (19/20) to Unknown. FAS showed that 693,453 MT of 18/19 soybeans were sold for export in the week that ended on September 6. There was also 2.430 MMT carried over from leftover 17/18 sales. There was a total of 1.138 MMT of soybean shipments during the week that was over last Thursday, with 242,484 for 17/18 and the rest for new crop. There was a total of 132,995 MT shipped to China in that week. Soymeal export sales in that week totaled 233,194 MT, with soy oil at 5,176 MT. The USDA cut their national average can price projection for soybeans another 30 cents on Wednesday to $7.35-$9.85, with an $8.60 mid-point.

Sep 18 Soybeans closed at $8.22 3/4, down 6 1/4 cents,

Nov 18 Soybeans closed at $8.33 1/4, down 6 3/4 cents,

Jan 19 Soybeans closed at $8.47, down 6 1/2 cents,

May 19 Soybeans closed at $8.72 1/2, down 5 1/2 cents,

Sep 18 Soybean Meal closed at $311.30, down $4.40,

Sep 18 Soybean Oil closed at $27.44, down $0.19




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