Soybean futures are mostly 4 1/2 to 5 1/4 cents lower in most nearby contracts at midday. January soy meal is down $2.40/ton, as nearby bean oil is 16 points in the red. The USDA reported a private export sale of 110,000 MT of soybeans to China for 17/18 delivery through their daily reporting system. The national soybean cash price according to DTN’s national soybean index was $8.90 3/4 on Tuesday. That is 57 cents lower than the same day last year, as the national basis is at -65 1/2 cents, 1 1/2 cents behind last year at this time. Dr. Cordonnier also left his estimate for Brazil production at 108 MMT, as Argentina remained at 55 MMT.

Jan 18 Soybeans are at $9.54, down 5 1/4 cents,

Mar 18 Soybeans are at $9.65 3/4, down 4 3/4 cents,

May 18 Soybeans are at $9.76 3/4, down 4 3/4 cents,

Jul 18 Soybeans are at $9.87 1/4, down 4 1/2 cents,

Jan 18 Soybean Meal is at $312.80, down $2.40

Jan 18 Soybean Oil is at $33.04, down $0.16

Market Commentary provided by:

Brugler Marketing & Management LLC
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