Soybeans

Soybean futures are showing gains of 13-14 cents in most front months on Turnaround Tuesday. Meal futures are up $4.80/ton, with nearby soy oil 54 points higher. Protests by truckers, slowing shipping in Argentina, are providing support at the moment. The average trade guess for 2017/18 soybean ending stocks in Thursday’s USDA Supply and Demand report is 487.8 mbu, 17.8 mbu larger than January. Traders are expecting another cut in export projections. Analysts are also projecting the USDA will add 1.5 MMT to Brazil’s soybean production at 111.5 MMT. That increase is expected to be offset by a 2.2 MMT reduction in Argentine production to 53.8 MMT.

Mar 18 Soybeans are at $9.83 1/2, up 13 3/4 cents,

May 18 Soybeans are at $9.94 3/4, up 13 1/2 cents,

Jul 18 Soybeans are at $10.04 3/4, up 13 1/2 cents,

Aug 18 Soybeans are at $10.07, up 13 1/4 cents,

Mar 18 Soybean Meal is at $331.80, up $4.80

Mar 18 Soybean Oil is at $33.04, up $0.54




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.