Soybean futures ended the Thursday session with most contracts 7 to 13 cents higher. Soy meal was up $3.20/ton, with front month soy oil 10 points higher. Old crop soybean export sales for the week that ended 4/5 were reported at 1.51 MMT, nearly 3.6 times this time in 2017. Unknown destinations was the lead buyer of 665,800 MT, as trade issues led to US beans showing more competitive prices. New crop sales were tallied at a MY high of 954,036 MT, as both old and new crop exceeded expectations. Exports of soybeans were a MY low 419,715 MT, down 27.6% from the previous week. Sales of soy meal were shown at 317,425 MT, with bean oil sales at 22,043 MT. The Rosario Grain exchange trimmed their Argentine soybean production estimate another 3MMT to 37 MMT, compared to the USDA’s 40 MMT.

May 18 Soybeans closed at $10.60 3/4, up 13 cents,

Jul 18 Soybeans closed at $10.71 3/4, up 13 cents,

Aug 18 Soybeans closed at $10.70 1/2, up 11 1/2 cents,

Nov 18 Soybeans closed at $10.53 1/2, up 7 cents,

May 18 Soybean Meal closed at $383.40, up $3.20,

May 18 Soybean Oil closed at $31.63, up $0.10

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.