AgriCharts Market Commentary

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Soybean Market News and Commentary

February 20, 2019

Soybean futures are mostly 3 to 4 cents lower this morning. They ended Tuesday with most contracts 5-6 cents off their lows, but still down 6 to 7 cents on the day. Meal futures were down $1.10/ton in the nearby contract, with soy oil 20 points lower. USDA weekly Export Inspections through February 14 totaled 1.031 MMT. That was down 3.37% from the week prior but 7.20% above the same time last year. This is the first week this MY that was larger than the same week last year, with cumulative shipments still lagging by 490 mbu. Exports to China were 404,420 MT. Brazil’s soybean harvest was estimated at 36% complete vs. the 19% average. Brazil’s soybean crop is seen at 114.6 MMT according to a Reuters poll, below the USDA’s 117 MMT. Malaysian palm oil erased all of the price gains since January 23 on Tuesday.

--provided by Brugler Marketing & Management

Soybean Market News and Commentary

February 19, 2019

Soybean futures ended Tuesday with most contracts 5-6 cents off their lows, but still down 6 to 7 cents on the day. Meal futures were down $1.10/ton in the nearby contract, with soy oil 2 points lower. This morning’s USDA Export Inspections report saw exports in the week of February 14 at 1.031 MMT. That was down 3.37% from the week prior but 7.20% above the same time last year. This is the first week this MY that was larger than the same week last year, with shipments still lagging by 490 mbu. Exports to China were reported at 404,420 MT. Brazil’s soybean harvest was estimated at 36% complete vs. the 19% average. Brazil’s soybean crop is seen at 114.6 MMT according to a Reuters poll, below the USDA’s 117 MMT.

Mar 19 Soybeans closed at $9.00 3/4, down 6 3/4 cents,

May 19 Soybeans closed at $9.14 1/2, down 7 cents,

Jul 19 Soybeans closed at $9.28, down 7 cents,

Sep 19 Soybeans closed at $9.37 1/4, down 6 1/4 cents,

Mar 19 Soybean Meal closed at $305.40, down $1.10,

Mar 19 Soybean Oil closed at $29.74, down $0.21

--provided by Brugler Marketing & Management

Soybean Market News and Commentary

February 19, 2019

Soybean futures are showing 10 to 11 3/4 cent losses in most contracts at midday. Meal futures are down $3/ton in the nearby contract, with soy oil 19 points lower. This morning’s USDA Export Inspections report saw exports in the week of February 14 at 1.031 MMT. That was down 3.37% from the week prior but 7.20% above the same time last year. This is the first week this MY that was larger than the same week last year, with shipments still lagging by 490 mbu. Exports to China were reported at 404,420 MT. Brazil’s soybean harvest was estimated at 36% complete vs. the 19% average.

Mar 19 Soybeans are at $8.95 3/4, down 11 3/4 cents,

May 19 Soybeans are at $9.09 3/4, down 11 3/4 cents,

Jul 19 Soybeans are at $9.23 1/4, down 11 3/4 cents,

Aug 19 Soybeans are at $9.28 1/2, down 11 3/4 cents,

Mar 19 Soybean Meal is at $303.50, down $3.00

Mar 19 Soybean Oil is at $29.76, down $0.19

--provided by Brugler Marketing & Management

Soybean Market News and Commentary

February 19, 2019

Soybean futures are mostly 1 to 2 1/2 cents lower this morning. Chinese futures at Dalian were 11 to 24CY lower on Monday while US markets were closed. That was their fourth down day in a row. US beans posted 3 to 4 cent gains in most contracts on Friday, on positive NOPA data. Meal futures were up $1/ton in the nearby contract, with soy oil 6 points higher. Friday morning’s NOPA report indicated a record January crush by its members at 171.63 mbu. That was slightly lower than December but 5.22% larger than a year ago. Soy oil stocks were up month/month, but down 10.3% from last year at 1.549 billion pounds. Brazil’s SAFRAS soybean production estimate was trimmed by 0.3 MMT to 115.4 MMT on Friday. That is not as low as some firms have gone, as SAFRAS cited a slight improvement to weather.

--provided by Brugler Marketing & Management

Soybean Market News and Commentary

February 15, 2019

Soybean futures managed to extract 3 to 4 cent gains in most contracts on Friday, on positive NOPA data. Meal futures were up $1/ton in the nearby contract, with soy oil 6 points higher. This morning’s NOPA report indicated a record January crush by its members at 171.63 mbu. That was slightly lower than December but 5.22% larger than a year ago. Soy oil stocks were up month/month, but down 10.3% from last year at 1.549 billion pounds. Brazil’s SAFRAS soybean production estimate was trimmed by 0.3 MMT to 115.4 MMT on Friday. That is not as low as some firms have gone, as they cited a slight improvement to weather.

Mar 19 Soybeans closed at $9.07 1/2, up 4 cents,

May 19 Soybeans closed at $9.21 1/2, up 3 3/4 cents,

Jul 19 Soybeans closed at $9.35, up 3 3/4 cents,

Sep 19 Soybeans closed at $9.43 1/2, up 3 1/2 cents,

Mar 19 Soybean Meal closed at $306.50, up $1.00,

Mar 19 Soybean Oil closed at $29.95, up $0.06

--provided by Brugler Marketing & Management


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