Soybean Market Mostly 1 Cent Lower

Soybeans futures are trading mostly 1 cent per bushel lower this morning. They were down 1 to 2 cents in the front months at Thursday’s close. There were scattered reports of frost damage on late planted beans. Soybean meal was down $2.30/ton with soy oil closing 74 points higher. USDA’s weekly Export Sales report indicated 2.076 MMT in soybean sales for week ending 9/26, exceeding trade estimates. China purchased 1.558 MMT of that total, their largest weekly purchase 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.

-- provided by Brugler Marketing & Management




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