AgriCharts Market Commentary

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Soybeans

January 19, 2018

Soybean futures settled the Friday session with most contracts 3 to 4 1/4 cents higher, with back months steady to up 2. Meal futures were up $3.20/ton, with nearby soy oil up 5 points. This morning, the USDA indicated that old crop soybean bookings last week totaled 1.24 MMT, beating out expectations. China purchased 576,600 MT, with Mexico buying 238,000 MT. The first full non-Holiday week of 2018 also showed new crop sales of 287,660 MT. Soybean shipments totaled 1.179 MMT, slipping 23.8% from a week ago and lagging last year by 25.4%. Soybean meal sales were at 281,820 MT, as soy oil sales tallied 27,922 MT. The soybean harvest in Brazil has totaled 0.8% for far, according to AgRural, compared to the average of 1.2% and last year’s 2.2%. BAGE rates soybean conditions in Argentina at 37.3% gd/ex, vs. last year’s 52.6%.

Mar 18 Soybeans closed at $9.77 1/4, up 4 1/4 cents,

May 18 Soybeans closed at $9.88 1/2, up 4 1/4 cents,

Jul 18 Soybeans closed at $9.98 1/4, up 4 1/4 cents,

Sep 18 Soybeans closed at $9.97 1/4, up 2 3/4 cents,

Mar 18 Soybean Meal closed at $331.60, up $3.20,

Mar 18 Soybean Oil closed at $32.28, up $0.05

Soybeans

January 19, 2018

Soybean futures are trading 5 to 6 1/2 cents higher at midday. Meal futures are up $4.40/ton, with nearby soy oil steady on Friday. This morning, the USDA indicated that old crop soybean bookings last week totaled 1.24 MMT, beating out expectations of 0.6-1 MMT. China purchased 576,600 MT, with Mexico buying 238,000 MT. The first full non-Holiday week of 2018 also showed new crop sales of 287,660 MT. Soybean meal sales were on the high side of expectations at 281,820 MT, as soy oil sales tallied 27,922 MT. In Brazil’s largest soybean producing state of Mato Grosso, the harvest is seen at 3.3% complete, vs. 11.5% for this time last year and the average of 7.2%. BAGE rates soybean conditions in Argentina at 37.3% gd/ex, vs. last year’s 52.6%.

Mar 18 Soybeans are at $9.79 1/4, up 6 1/4 cents,

May 18 Soybeans are at $9.90 3/4, up 6 1/2 cents,

Jul 18 Soybeans are at $10.00 1/4, up 6 1/4 cents,

Aug 18 Soybeans are at $10.02, up 5 1/4 cents,

Mar 18 Soybean Meal is at $332.80, up $4.40

Mar 18 Soybean Oil is at $32.23, unch,

Soybeans

January 19, 2018

Soybean futures are showing 3 to 4 1/2 cent gains this morning after settling with gains of 4 to 5 cents in most contracts on Thursday. Meal futures were up $4.10/ton, with nearby soy oil down 28 points. A survey of farmers by Farm Futures put 2018/19 US soybean acreage at 90.1 million acres, UNCH from a year ago. Analysts are expecting to see the first full non-Holiday week of 2018 show 0.6-1 MMT in old crop soybean export sales. Traders are also looking for 200-400,000 MT of new crop sales in this morning’s weekly USDA Export Sales report. During the week of Jan 11, the USDA reported “known“ private sales of 449,000 MT for old crop and 195,000 MT for new crop sales. Estimates for soy meal are at 100,000-300,000 MT, with 8,000-25,000 MT for soy oil.

Soybeans

January 18, 2018

Soybean futures settled with gains of 4 to 5 cents in most contracts on Thursday. Meal futures are up $4.10/ton, with nearby soy oil down 28 points. A survey of farmers by Farm Futures shows projections for the 18/19 US soybean acreage at 90.1 million acres, UNCH from a year ago. Analysts are expecting to see the first full non-Holiday week of 2018 show 0.6-1 MMT in old crop soybean export sales. There is also 0.2-0.4 MMT seen for new crop sales. During the week of Jan 11, the USDA reported private sales of 449,000 MT for old crop and 195,000 MT for new crop sales. Estimates for soy meal are at 100,000-300,000 MT, with 8,000-25,000 MT for soy oil. The USDA numbers will be out tomorrow morning.

Mar 18 Soybeans closed at $9.73, up 4 1/4 cents,

May 18 Soybeans closed at $9.84 1/4, up 4 1/4 cents,

Jul 18 Soybeans closed at $9.94, up 4 1/2 cents,

Sep 18 Soybeans closed at $9.94 1/2, up 5 cents,

Mar 18 Soybean Meal closed at $328.40, up $4.10,

Mar 18 Soybean Oil closed at $32.23, down $0.28

Soybeans

January 18, 2018

Soybean futures are trading 4 to 4 1/4 cents in the green in most nearby contracts on Thursday. Meal futures are up $3.30/ton, with nearby soy oil down 11 points. A survey of farmers by Farm Futures shows projections for the 18/19 US soybean acreage at 90.1 million acres, UNCH from a year ago. Analysts are expecting to see the first full non-Holiday week of 2018 show 0.6-1 MMT in old crop soybean export sales. There is also 0.2-0.4 MMT seen for new crop sales. During the week of Jan 11, the USDA reported private sales of 449,000 MT for old crop and 195,000 MT for new crop sales. Estimates for soy meal are at 100,000-300,000 MT, with 8,000-25,000 MT for soy oil. The USDA numbers will be out tomorrow morning.

Mar 18 Soybeans are at $9.73, up 4 1/4 cents,

May 18 Soybeans are at $9.84, up 4 cents,

Jul 18 Soybeans are at $9.93 3/4, up 4 1/4 cents,

Aug 18 Soybeans are at $9.96 1/4, up 4 1/4 cents,

Mar 18 Soybean Meal is at $327.60, up $3.30

Mar 18 Soybean Oil is at $32.40, down $0.11


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