Soybeans

Soybean futures saw most contracts 5 to 6 1/4 cents lower on forecasts for increased chances of rains in Argentina. Meal futures were down $2.60/ton, with nearby soy oil 39 points in the red. The USDA reported a private export sale of 108,860 MT of 17/18 soybeans to Mexico this morning. Monday’s Stats Canada report is expected to show 14.3 MMT in canola stocks on Dec 31, 6.84% larger than a year ago. Brazil’s January soybean exports totaled 1.564 MMT, which was 71.48% larger than last year but down nearly 33.7% from December, according to the country’s ag ministry. On Friday, AgRural raised their 17/18 Brazil production estimate to 116.2 MMT, with Informa projecting 112.5 MMT. Safras & Mercado estimates that 5.69% of the country’s soybeans have been harvested, lagging the average of 7.6% and last year’s 10.1%.

Mar 18 Soybeans closed at $9.78 3/4, down 6 1/4 cents,

May 18 Soybeans closed at $9.90 1/4, down 6 1/4 cents,

Jul 18 Soybeans closed at $9.99 3/4, down 6 1/4 cents,

Sep 18 Soybeans closed at $9.97 3/4, down 5 3/4 cents,

Mar 18 Soybean Meal closed at $331.40, down $2.60,

Mar 18 Soybean Oil closed at $32.51, down $0.39




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

First you raise it, then you market it!  Check out the full Brugler advisory service with this special Harvest 2Fer offer at  http://bit.ly/Harvest2Fer.


 

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.