Soybean Market News and Commentary

Soybean futures ended the Friday session with 6 to 7 1/4 cent losses in most contracts, pressured by product values. May was down 0.6% on the week. Meal futures were down 30 cents/ton, with soy oil 44 points lower. Nearby soy oil lost 2.62% this week. Money managers in soybean futures and options backed off their net short position by 26,205 contracts as of Tuesday to a net position of -63,992 contracts. US soybean acres were estimated at 85.9 million acres according to a Farm Futures survey of producers. Export commitments for soybeans are down 17% from the same time last year. Compared to USDA’s projection they are 81% complete vs. the 92% average for this time of year.

May 19 Soybeans closed at $9.03 3/4, down 6 3/4 cents,

Jul 19 Soybeans closed at $9.17 1/4, down 7 cents,

Aug 19 Soybeans closed at $9.23 1/4, down 7 cents,

Nov 19 Soybeans closed at $9.37 1/2, down 7 1/4 cents,

May 19 Soybean Meal closed at $315.00, down $0.30,

May 19 Soybean Oil closed at $28.66, down $0.44

--provided by Brugler Marketing & Management




Market Commentary provided by:

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