AgriCharts Market Commentary

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Soybeans Market Commentary

October 19, 2018

Soybean futures are currently 1 to 1 1/2 cents higher after posting 21 to 22 1/4 cent losses in the nearby contracts on Thursday. Front month soy meal was down $7.40/ton, with soy oil 54 points lower. Export sales of 2018/19 soybeans were just 293,566 MT for the week that ended on October 11. The number was depressed by switches from unknown (claiming previously booked sales), which saw a net reduction of 694,400 MT for the week. Bean shipments of soybeans picked up 30.9% from last week at 1.157 MMT but were still down 37.4% from a year ago. Spain was the top destination of 188,000 MT, with 134,700 MT headed to China. Soybean export sales commitments are currently 21% smaller than last year. Argentina’s ag ministry expects that country’s planted soybean acreage to total 43.25 million acres, up ~750,000 from last year.

--Call Brugler Marketing & Management @ (402) 289-2330 with questions or news tips.

Soybeans Market Commentary

October 18, 2018

Soybean futures posted 21 to 22 1/4 cent losses in the nearby contracts on Thursday. Front month soy meal was down $7.40/ton, with soy oil 54 points lower. Export sales of 18/19 soybeans were just 293,566 MT for the week that ended on October 11. That was well below this time last year, as they saw a 33.2% drop wk/wk. Most of the sales were switched from unknown, which saw a net reduction of 694,400 MT. Shipments of soybeans picked up 30.9% from last week at 1.157 MMT but were still down 37.4% from a year ago. Spain was the top destination of 188,000 MT, with 134,700 MT headed to China. Soy meal sales were tallied at 104,342 MT, with soy oil 26,583 MT in the first full week of the new MY. Argentina’s ag ministry expects the country’s planted soybean acreage to total 43.25 million acres, up ~750,000 from last year.

Nov 18 Soybeans closed at $8.63 1/2, down 22 1/4 cents,

Jan 19 Soybeans closed at $8.77 3/4, down 22 cents,

Mar 19 Soybeans closed at $8.90 1/2, down 21 3/4 cents,

Jul 19 Soybeans closed at $9.13 3/4, down 21 1/2 cents,

Dec 18 Soybean Meal closed at $316.30, down $7.40,

Dec 18 Soybean Oil closed at $29.02, down $0.54

--provided by Brugler Marketing & Management, Call (402) 289-2330

Soybeans Market Commentary

October 18, 2018

Soybean futures are posting 18 to 19 1/2 cent losses in most contracts at midday. Front month soy meal is down $6.50/ton, with soy oil 40 points lower. Export sales of 18/19 soybeans were reported at just 293,566 MT for the week that ended on October 11. That was well below this time last year, as they saw a 33.2% drop wk/wk. Analysts were estimating 0.6-1 MMT in sales. Most of the sales were switched from unknown, which saw a net reduction of 694,400 MT. There were 8,730 MT in net sales to China. Soy meal sales were tallied at 104,342 MT, with soy oil 26,583 MT in the first full week of the new MY.

Nov 18 Soybeans are at $8.66 1/4, down 19 1/2 cents,

Jan 19 Soybeans are at $8.80 1/2, down 19 1/4 cents,

Mar 19 Soybeans are at $8.93 1/2, down 18 3/4 cents,

May 19 Soybeans are at $9.06 1/2, down 18 1/2 cents,

Dec 18 Soybean Meal is at $317.20, down $6.50

Dec 18 Soybean Oil is at $29.16, down $0.40

--provided by Brugler Marketing & Management, Call (402) 289-2330

Soybeans Market Commentary

October 18, 2018

Soybean futures are trading mostly 7 cents lower this morning. They settled 1/2 to 1 cent higher on Wednesday. Front month soy meal was up $1.40/ton to support product value, with soy oil down 10 points. Palm oil futures hit a 4-week high on ideas of increased use for biodiesel but also expanded biodiesel exports. Analysts are estimating today’s USDA export sales report will show 0.6-1 MMT in 18/19 soybean export sales during the week of 10/11. Soy meal sales are seen at 150,000-450,000 MT, with soy oil at 5,000-25,000 MT in the first full week of the new MY. An auction of Chinese state reserves saw 97,292 MT of 2013 soybeans sold on Wednesday, totaling 96.05% of the amount offered.

Soybeans Market Commentary

October 17, 2018

Soybean futures gave back their morning gains but settled 1/2 to 1 cent higher. Front month soy meal was up $1.40/ton to support product value, with soy oil down 10 points. Palm oil futures hit a 4-week high on ideas of increased use for biodiesel but also expanded biodiesel exports. Analysts are estimating tomorrow’s USDA report to show 0.6-1 MMT in 18/19 soybean export sales during the week of 10/11. Soy meal sales are seen at 150,000-450,000 MT, with soy oil at 5,000-25,000 MT in the first full week of the new MY. An auction of Chinese state reserves saw 97,292 MT of 2013 soybeans sold on Wednesday, totaling 96.05% of the amount offered.

Nov 18 Soybeans closed at $8.85 3/4, up 1 cent,

Jan 19 Soybeans closed at $8.99 3/4, up 1/2 cent,

Mar 19 Soybeans closed at $9.12 1/4, up 3/4 cent,

May 19 Soybeans closed at $9.25, up 3/4 cent,

Dec 18 Soybean Meal closed at $323.70, up $1.40,

Dec 18 Soybean Oil closed at $29.56, down $0.10

--provided by Brugler Marketing & Management (402) 289-2330


Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com