Black Friday Discounts for Soybeans

Soybean futures closed with a 5 to 5 1/4 cent loss on Friday, which pushed the weekly loss to 20 1/4 cents. Soybean meal was $2.90/ton lower, and bean oil went into the post holiday weekend with a 5 point gain on Friday. Soybean export sales from this morning’s report exceeded trader expectations, with 1.664 MT sold the week ending 11/21. Those sales were 14.1% above last week and pushed the MY accumulated commitments (shipped and unshipped sales) to 25.260 MMT, which was a 9.5% ahead of last year’s pace. The weekly soybean shipments, according to the report, were at 2.245 MMT, which is the highest for a week since early November 2017. Meal sales were below expectations this morning, with a mere 93,165 MT sold for the week ending 11/21, which was the lowest weekly sales since the summer slump. Soybean oil had 14,865 MT of sales through the week ending 11/21. China accounted for 831,163 MT of the sales, and 1.531 MMT of the shipments were headed for the PRC. The monthly oilseed crush report will be released on Monday, with the average trade expectation at 186.1 mbu; if realized, that would be an all time monthly record.

JAN 19 Soybeans closed at $8.76 3/4, down 5 1/4 cents,

MAR 19 Soybeans closed at $8.91 1/4, down 5 1/4 cents,

MAY 20 Soybeans closed at $9.05 3/4, down 5 cents,

JUL 20 Soybeans closed at $9.18 1/4, down 5 cents,

DEC 19 Soybean Meal closed at $290.90, down $2.90,

DEC 19 Soybean Oil closed at $30.42, up $0.05

--- provided by Brugler Marketing & Management




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