Soybean futures gave back a majority of Wednesday’s gains, down 9-10 3/4 cents in the nearby contracts. January soy meal was down $2.40/ton, as nearby bean oil was 57 points lower. Soybean old crop export sales are expected to be in the range of 0.8-1.5 MMT in Friday’s USDA report. Total sales expected for soy meal are 100,000-300,000 MT, with 5,000-25,000 MT seen for soy oil. A Reuters report shows that roughly half of the US shipments to China in 2017 consisted of more than 1% FM, the new standard effective in January. Increased cleaning will increase costs to US exporters. Following Wednesday’s explosion at a Rosario port that left one dead, workers started a 48 hour strike with the reason being safety concerns. The market showed little reaction, as exports there are typically slower around this time of year.

Jan 18 Soybeans closed at $9.45 3/4, down 9 3/4 cents,

Mar 18 Soybeans closed at $9.56 3/4, down 10 3/4 cents,

May 18 Soybeans closed at $9.67 3/4, down 10 3/4 cents,

Aug 18 Soybeans closed at $9.81 1/4, down 10 cents,

Jan 18 Soybean Meal closed at $311.80, down $2.40,

Jan 18 Soybean Oil closed at $32.50, down $0.57

Market Commentary provided by:

Brugler Marketing & Management LLC
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Phone: 402-697-3623
Fax: 402-289-2353

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