Soybeans

Soybean futures closed the Thursday session with most contracts 2 to 6 1/4 cents lower. Meal futures were down $3.30/ton, with nearby soy oil 32 points lower. This morning’s weekly Export Sales report showed 17/18 sales of soybeans at 607,381 MT for the week ending 1/4, with 9,000 MT for new crop. That is 74.1% larger than this time last year. Export shipments tallied 1.546 MMT, an 8% jump over last year. Total soy meal sales were at 226,905 MT, with soy oil showing a net reduction of 1,612 MT. Brazil’s CONAB raised their 17/18 soybean crop projection 1.2 MMT to 110.4 MMT, with a couple other South American firms now expecting 114-114.1 MMT. Argentina’s crop is seen at 52 MMT by the Rosario Grain Exchange down 2.5 MMT from their previous estimate.

Jan 18 Soybeans closed at $9.40 1/2, down 6 1/2 cents,

Mar 18 Soybeans closed at $9.50, down 5 cents,

May 18 Soybeans closed at $9.61, down 5 cents,

Aug 18 Soybeans closed at $9.73 1/2, down 4 3/4 cents,

Jan 18 Soybean Meal closed at $309.60, down $3.30,

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




Market Commentary provided by:

Brugler Marketing & Management LLC
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Phone: 402-697-3623
Fax: 402-289-2353
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