Soybean Market News and Commentary

Soybeans futures were down 1 to 2 cents in the front months at Thursday’s close. Soybean meal was down $2.30/ton with soy oil closing up 74 points. A private export sale of 252,000 MT of soybeans for 19/20 delivery to China was announced by USDA this morning. USDA’s weekly Export Sales report indicated 2.076 MMT in soybean sales for week ending on 9/26, exceeding trade estimates. China purchased 1.558 MMT of that total, their largest weekly purchased since late March. Soy meal sales in the last full week of September totaled 158,276 MT, with a majority for 19/20 as the 18/19 meal MY is nears a close (Sep 30). Bean oil sales were tallied at 2,495 MT for that week.

NOV 19 Soybeans closed at $9.11 3/4, down 2 cents,

JAN 19 Soybeans closed at $9.26, down 1 3/4 cents,

MAR 20 Soybeans closed at $9.36 1/2, down 2 cents,

MAY 20 Soybeans closed at $9.46 1/4, down 2 cents,

OCT 19 Soybean Meal closed at $298.00, down $2.30,

OCT 19 Soybean Oil closed at $29.80, up $0.74

-- provided by Brugler Marketing & Management

Market Commentary provided by:

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