Soybean futures are trading 3 to 4 3/4 cents higher on Friday. Meal futures are down $1.50ton, with nearby soy oil 32 points lower. The Jan contracts expire today. US ending stocks for the 17/18 soybean crop were increased 25 mbu to 479 mbu this morning, as exports were reduced 65 mbu. Production of old crop beans was trimmed 33 to 4.392 bbu, on a 0.4 bpa lower yield at 49.1 bpa. The Quarterly Stocks report indicated December 1 soybean stocks at 3.157 bbu, up 259 mbu from a year ago and a shade under expectations. The USDA also increased Brazilian production 2 MMT to 110 MMT, while Argentina’s production was reduced 1 MMT to 56 MMT, all in line with estimates. That boosted the world ending stocks number to 98.57 MMT. Data from Chinese customs shows the country’s imports of soybeans during December 6% larger than last year at 9.55 MMT.

Jan 18 Soybeans are at $9.43 3/4, up 3 1/4 cents,

Mar 18 Soybeans are at $9.54 1/4, up 4 1/4 cents,

May 18 Soybeans are at $9.65 1/4, up 4 1/4 cents,

Jul 18 Soybeans are at $9.75 1/4, up 4 3/4 cents,

Jan 18 Soybean Meal is at $308.10, down $1.50

Jan 18 Soybean Oil is at $32.97, down $0.32

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353

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.