Soybeans

Soybean futures are down 15 to 18 cents at midday, as trader are taking money off the table going into the weekend. Soy meal is $6.10/ton lower, with front month soy oil 2 points in the red. Aggressive farmer selling in Brazil has been reported, with strong domestic prices recently. Total US export commitments for soybeans are 98% of the USDA export projection, which was left UNCH on Thursday. That is even with the average for this week. Thursday morning’s Supply and Demand report from the USDA saw a 20 mbu increase to the US soybean crush number, which reduced ending stocks. Canola stocks in Canada at the end of March rose 14.4% from last year to 9.077 MMT, the second largest March total recorded. Abiove updated their 17/18 Brazil production estimate to 118.4 MMT this morning, exceeding the USDA’s recently updated 117 MMT.

May 18 Soybeans are at $9.95 1/4, down 18 cents,

Jul 18 Soybeans are at $10.05, down 16 1/4 cents,

Aug 18 Soybeans are at $10.09, down 15 3/4 cents,

Sep 18 Soybeans are at $10.11 3/4, down 15 1/2 cents,

May 18 Soybean Meal is at $384.40, down $6.10

May 18 Soybean Oil is at $30.96, down $0.02




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.