AgriCharts Market Commentary

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Soybeans

August 18, 2017

Soybean futures finished the Friday session with gains of 4 to 7 1/4 cents in the nearby contracts, with Sep just 3/4 of a cent lower on the week. Sep soy meal was up $1.10/ton, with nearby bean oil 40 points higher. The CFTC showed spec traders switching back to a net short position of 14,399 contracts in soybean futures and options as of Tuesday. That is a net weekly change of 27,312 contracts. Next week’s export sales report should include private export sales announcements since last Friday of at least 489,000 MT of new crop and 60,000 MT in old crop soybeans. These have been announced under the USDA daily reporting system, China was the purchaser of 417,000 MT of that total. Safras and Mercado estimate Brazil soybean exports for 17/18 at 64.5 MMT, nearly 24% larger than in 16/17, with crush projected at 41 MMT.

Sep 17 Soybeans closed at $9.37 1/2, up 7 1/4 cents,

Nov 17 Soybeans closed at $9.37 3/4, up 4 3/4 cents,

Jan 18 Soybeans closed at $9.45 3/4, up 4 1/2 cents,

May 18 Soybeans closed at $9.60 3/4, up 4 cents,

Sep 17 Soybean Meal closed at $297.20, up $1.10,

Sep 17 Soybean Oil closed at $33.61, up $0.40

Soybeans

August 18, 2017

Soybean futures are trading 4 to 7 1/2 cents in the green in most front months. Sep soy meal is up 80 cents/ton, with nearby bean oil 48 points higher. Soybean export commitments are 15.8% larger than last year for this week. They are 105% of the USDA full year export estimate, vs. 104% last year and the average of 103%. Next week’s export sales report should include private export sales announcements since last Friday of at least 489,000 MT of new crop and 60,000 MT in old crop soybeans. These have been announced under the daily reporting system. China was the purchaser of 417,000 MT of that total.

Sep 17 Soybeans are at $9.37 3/4, up 7 1/2 cents,

Nov 17 Soybeans are at $9.38, up 5 cents,

Jan 18 Soybeans are at $9.45 3/4, up 4 1/2 cents,

Mar 18 Soybeans are at $9.53 1/2, up 4 cents,

Sep 17 Soybean Meal is at $296.90, up $0.80

Sep 17 Soybean Oil is at $33.69, up $0.48

Soybeans

August 18, 2017

Soybean futures are trading a penny higher to a penny lower this morning after posting gains of 5 1/2 to 8 1/2 cents on Thursday. Sep soy meal was up $1.50/ton, with nearby bean oil 36 points higher. In the USDA Export Sales report, shipments were up 21.3% wk/wk at 742,769 MT, but down 14.1% from last year. They are still stronger than previously expected for August. Soybean export commitments are 15.8% larger than last year for this week. They are 105% of the USDA full year export estimate, vs. 104% last year and the average of 103%. Total soy meal exports came in at 151,161 MT, with soy oil shipments of 23,523 MT.

Soybeans

August 17, 2017

Soybean futures posted gains of 5 1/2 to 8 1/2 cents on Thursday. Sep soy meal was up $1.50/ton, with nearby bean oil 36 points higher. This morning, the USDA announced a private export sale of 165,000 MT of optional origin soybeans to China through their daily reporting system. In Export Sales report, they showed old crop soybean sales of 453,220 MT for the week of August 10, which was up 10 fold from last week’s sales and 154.8% larger than a year ago. New crop sales came in at 899,429 MT, a 40.7% increase over a week ago but 43.7% below last year. The lead buyer for both old and new crop was China, as they purchased a total of 737,479 MT. Shipments were up 21.3% wk/wk at 742,769 MT. Total soy meal sales came in at 143,053 MT, with exports at 151,161 MT. Soy oil sales were reported at 26,926 MT, with shipments of 23,523 MT.

Sep 17 Soybeans closed at $9.30 1/4, up 8 1/2 cents,

Nov 17 Soybeans closed at $9.33, up 7 3/4 cents,

Jan 18 Soybeans closed at $9.41 1/4, up 7 3/4 cents,

May 18 Soybeans closed at $9.56 3/4, up 7 3/4 cents,

Sep 17 Soybean Meal closed at $296.10, up $1.50,

Sep 17 Soybean Oil closed at $33.21, up $0.36

Soybeans

August 17, 2017

Soybean futures are mostly 2 1/2 to 3 cents higher on Thursday, with the help of a stronger Export Sales report. Sep soy meal is up 30 cents/ton, with nearby bean oil 26 points in the green. This morning, the USDA announced a private export sale of 165,000 MT of optional origin soybeans to China through their daily reporting system. In Export Sales report, they showed old crop soybean sales of 453,220 MT for the week of August 10, which was up 10 fold from last week’s sales and 154.8% larger than a year ago. New crop sales came in at 899,429 MT, a 40.7% increase over a week ago but 43.7% below last year. The lead buyer for both old and new crop was China, as they purchased a total of 737,479 MT. Total soy meal sales came in at 143,053 MT slightly higher than last week but 54.3% lower than last year. Soy oil sales were reported at 26,926 MT.

Sep 17 Soybeans are at $9.24 1/4, up 2 1/2 cents,

Nov 17 Soybeans are at $9.28, up 2 3/4 cents,

Jan 18 Soybeans are at $9.36, up 2 1/2 cents,

Mar 18 Soybeans are at $9.44 1/2, up 3 cents,

Sep 17 Soybean Meal is at $294.90, up $0.30

Sep 17 Soybean Oil is at $33.11, up $0.26


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