Soybeans Seeing Losses at Midday

Soybeans futures are showing fractional losses. Soybean meal is down $1.20 to 297.60/ton, with soy oil showing 25 point gains to 30.04 cents/lb. Private export sales of 198,000 MT of soybeans to China and 240,000 MT to unknown destinations were announced through USDA’s daily reporting system this morning. China has purchased by unofficial count more than 3.5 MMT of soybeans in the run up to this week’s trade talks in D.C. Soybean exports were reported at 1.039 MMT by USDA for the week ending 10/03. That is a 5.1% increase from last week and is 41.4% more than the same week last year. Soy harvest expectations are around 13% which would be a 6% move over last week, but 22% behind last year’s pace.

NOV 19 Soybeans are at $9.15 3/4, down 1/2 cent,

JAN 19 Soybeans are at $9.29 3/4, down 1/2 cent,

MAR 20 Soybeans are at $9.40 1/2, down 1/4 cent,

MAY 20 Soybeans are at $9.49 3/4, down 1/4 cent,

OCT 19 Soybean Meal is at $297.60, down $1.20,

OCT 19 Soybean Oil is at $30.04, up $0.25

-- provided by Brugler Marketing & Management

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