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
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.