Soybeans Higher in Front of the Weekend

Soybeans futures are seen up 5 to 6 3/4 in the nearby contracts. There were scattered reports of frost damage on late planted beans. Soybean meal is up $1.6/ton with soy oil down 7 points at Friday’s midday. Census trade data this morning revealed a record for August exports at 4.931 MMT, or 181.19 mbu. That put the full 18/19 MY total at 1.748 bbu, about 3mbu above USDA’s Sep projection. Of the August total 2.68 MMT was to China (489.5 mbu). Soy meal exports were at 939,711 MT, which was just shy of last year’s August record. The census data noted August soy oil exports at 75,109 MT. IEG Vantage updated their estimated 2019 soybean yield to 46.5 bpa, down 1.9 bpa from last month.

NOV 19 Soybeans are at $9.18, up 6 1/4 cents,

JAN 19 Soybeans are at $9.31 3/4, up 5 3/4 cents,

MAR 20 Soybeans are at $9.42 1/4, up 5 3/4 cents,

MAY 20 Soybeans are at $9.51 1/4, up 5 cents,

OCT 19 Soybean Meal is at $299.60, up $1.60,

OCT 19 Soybean Oil is at $29.73, down $0.07

-- provided by Brugler Marketing & Management

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