Soybeans

Soybean futures settled 1 lower to 3 higher on Friday. Nearby Soymeal futures were down $3.80/ton, with nearby soy oil down 6 points. The USDA reported private export sales of 121,000 MT of soybeans to unknown and 198,000 MT to China for 17/18 delivery this morning. They also reported 20,000 MT of soy oil sold to unknown through their daily reporting system. Export commitments as of Feb 22 for soybeans were 12.5% lower than the same time last year. BAGE trimmed their expected Argentine soybean production number 3 MMT to 44 MMT. The average trade guess is still 48.5 MMT in a Bloomberg survey. USDA was at 54 MMT for Argentina in February. They will update on March 8. Brazil was 113.9 MMT in the same survey. Brazil exported 2.864 MMT of soybeans during February according to their country’s Trade Ministry. That was 83.12% larger than January, but down from last year by 18.9%.

Mar 18 Soybeans closed at $10.60 3/4, up 3 1/4 cents,

May 18 Soybeans closed at $10.71, up 3 cents,

Jul 18 Soybeans closed at $10.79 1/4, up 2 3/4 cents,

Aug 18 Soybeans closed at $10.76 1/2, up 2 3/4 cents,

Mar 18 Soybean Meal closed at $390.20, down $3.80,

Mar 18 Soybean Oil closed at $32.06, down $0.06




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