Soybeans futures are starting off Thursday steady to 1 cent per bushel lower after 1 to 5 3/4 cent losses in the front months on Wednesday. Longs were liquidating November positions, with preliminary open interest down 10,433 across all months but down 11,208 in November. Soybean meal was down $3.80/ton with soy oil 23 points higher. Trade expectations for Thursday’s USDA report are for 0.9-1.4 MMT in soybeans export sales during the week of 9/26. Meal sales are seen at 50,000-350,000 MT, with soy oil at 5,000-40,000 MT. Brazil’s trade ministry tallied Sep soybean exports at 4.447 MMT, slightly lower than last year and down from the 5.321 MMT in August. -- provided by Brugler Marketing & Management
Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!
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.