Soybean Market News and Commentary

Soybean futures ended the Wednesday session with most contracts 2 to 3 cents higher. Meal futures were up 80 cents/ton, with soy oil 3 points higher. Strong Board profitability for hogs is supporting meal. Analysts are expecting 18/19 soybean export bookings of 0.6-1.6 MMT for the week of 3/14 in Thursday’s USDA Export Sales report. New crop sales are estimated at 0-150,000 MT. Soybean meal sales are seen at 150,000-400,000 MT, with soy oil at 8,000-30,000 MT. Brazil’s Ag Minister says she expects to head to China later this Spring to strengthen soybean trade.

May 19 Soybeans closed at $9.06, up 2 cents,

Jul 19 Soybeans closed at $9.19 1/2, up 2 cents,

Aug 19 Soybeans closed at $9.26, up 2 1/4 cents,

Nov 19 Soybeans closed at $9.40 1/4, up 2 cents,

May 19 Soybean Meal closed at $311.60, up $0.80,

May 19 Soybean Oil closed at $29.27, up $0.03

--provided by Brugler Marketing & Management




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