Soybeans Market Commentary

Soybean futures are mostly 5 to 6 cents in the red on Wednesday. Front month soy meal are down $3.50/ton, with soy oil 19 points higher. Thursday’s Export sales report is expected to show 400,000-700,000 MT in 18/19 soybean export sales for the week of 11/1. Soy meal sales are seen at 200,000-450,000 MT, with soy oil at 8,000-30,000 MT. The average trade estimate heading into Thursday’s monthly USDA reports calls for US soybean ending stocks to be up 21 mbu to 906 mbu. Production is expected to be lower, but the surveyed traders estimate USDA will trim exports.

Nov 18 Soybeans are at $8.66 3/4, down 5 1/4 cents,

Jan 19 Soybeans are at $8.78 1/2, down 5 3/4 cents,

Mar 19 Soybeans are at $8.91, down 5 1/2 cents,

May 19 Soybeans are at $9.04 1/4, down 5 1/2 cents,

Dec 18 Soybean Meal is at $307.90, down $3.50

Dec 18 Soybean Oil is at $28.09, up $0.19

--provided by Brugler Marketing & Management




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