Soybean futures are trading 5 to 6 cents lower at midday, with pressure from Argentine rain forecasts. Meal futures are down $2.80/ton, with nearby soy oil 10 points higher. A private export sale of 198,600 MT of soybeans to Unknown Destinations, with 132,000 MT for 17/18 delivery and 66,600 MT for 18/19 was reported by the USDA this morning. This morning’s USDA weekly inspections report showed exports of 1.304 MMT of soybeans for the week ending Feb 1. That was 15.33% above last week but 20.98% behind this week last year. Stats Canada reported the country’s canola stocks on Dec 31 at 14.146 MMT. That was slightly lower than trade expectations of 14.3 MMT but 5.7% larger than December 2016 and still a new record high.

Mar 18 Soybeans are at $9.73 1/4, down 5 1/2 cents,

May 18 Soybeans are at $9.84 3/4, down 5 1/2 cents,

Jul 18 Soybeans are at $9.94 1/2, down 5 1/4 cents,

Aug 18 Soybeans are at $9.97, down 5 1/4 cents,

Mar 18 Soybean Meal is at $328.60, down $2.80

Mar 18 Soybean Oil is at $32.61, 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

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