AgriCharts Market Commentary

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Soybeans

June 22, 2018

Soybean futures settled 14 to 14 3/4 cents higher in the front months on Friday. Nearby July lost 1.21% since last Friday despite hitting a 9 1/2 year low on Tuesday. Front Month soy meal was up $7.30/ton, with soybean oil 2 points in the green. Managed money speculators cut 25,671 contracts off their net long position in soybean futures and options in the week 6/19, to flip to a net short position of -12,801 contracts. The EPA reportedly plans to increase biofuels blending mandate by 3% in 2019 to 19.88 billion gallons. Biodiesel is targeted at 2.43 billion gallons, up 330 million gallons. BAGE estimates that the 97.1% of the Argentina soybean crop is harvested.

Jul 18 Soybeans closed at $8.94 1/2, up 14 cents,

Aug 18 Soybeans closed at $9.00, up 14 1/2 cents,

Sep 18 Soybeans closed at $9.06, up 14 3/4 cents,

Jan 19 Soybeans closed at $9.25 1/4, up 14 3/4 cents,

Jul 18 Soybean Meal closed at $339.10, up $7.30,

Jul 18 Soybean Oil closed at $29.21, up $0.02

Soybeans

June 22, 2018

Soybean futures are trading 8 to 10 cents in the green so far on Friday. Front Month soy meal is up $5.30/ton, with soybean oil up 14 points. Commitments for soybeans exports are still 4.2% behind a year ago. They are 100% of the full year USDA export projection, compared to the average at 101% and 102% last year. The EPA reportedly plans to increase biofuels blending mandate by 3% in 2019 to 19.88 billion gallons. Biodiesel is targeted at 2.43 billion gallons, up 330 million gallons. BAGE estimates that the 97.1% of the Argentina soybean crop is harvested.

Jul 18 Soybeans are at $8.90 1/2, up 10 cents,

Aug 18 Soybeans are at $8.95 1/4, up 9 3/4 cents,

Sep 18 Soybeans are at $9.01 1/4, up 10 cents,

Nov 18 Soybeans are at $9.10 1/4, up 8 3/4 cents,

Jul 18 Soybean Meal is at $337.10, up $5.30

Jul 18 Soybean Oil is at $29.33, up $0.14

Soybeans

June 22, 2018

Soybean futures are currently 7 to 8 cents in the greed, since seeing losses of 9 to 10 cents in most front months on Thursday. Front Month soy meal was down $1.40/ton, with soybean oil 18 points in the red. Uncertainty over the ongoing US-China trade dispute is still weighing on the market. Soybean export shipments during the week of June 14 totaled 992,047 MT, well above last year and 66.1% larger than last week. Meal exports totaled 201,142 MT during that week, with oil at 29,896 MT. Commitments for soybeans exports are still 4.2% behind a year ago. They are 100% of the full year USDA export projection, compared to the average at 101% and 102% last year. Argentina's soybean production is now seen at 37.2 MMT by the country's ag ministry, 600,000 MT higher than the previous estimate.

Soybeans

June 21, 2018

Soybean futures saw losses of 9 to 10 cents in most front months on Thursday. Front Month soy meal was down $1.40/ton, with soybean oil 18 points in the red. Uncertainty over the ongoing US-China trade dispute is still weighing on the market. Old crop soybean export sales for the week of 6/14 totaled 301,745 MT, edging into traders estimates. That was better than the same week last year. The Netherlands purchased 240,300 MT, with most switched from unknown destinations. China canceled 66,000 MT. Sales of new crop soybeans totaled 227,605 MT. Export shipments of soybeans totaled 992,047 MT, well above last year and 66.1% larger than last week. Soy meal sales were tallied at 120,106 MT, as 18,777 MT was reported for soy oil. Argentina's soybean production is now seen at 37.2 MMT, 600,000 MT higher than the previous estimate.

Jul 18 Soybeans closed at $8.80 1/2, down 9 cents,

Aug 18 Soybeans closed at $8.85 1/2, down 9 cents,

Sep 18 Soybeans closed at $8.91 1/4, down 9 cents,

Jan 19 Soybeans closed at $9.10 1/2, down 9 1/2 cents,

Jul 18 Soybean Meal closed at $331.80, down $1.40,

Jul 18 Soybean Oil closed at $29.19, down $0.18

Soybeans

June 21, 2018

Soybean futures are mostly 6 to 7 cents lower at the moment on Thursday. Front Month soy meal is down 80 cents/ton, with soybean oil 14 points in the red. Uncertainty over the ongoing US-China trade dispute is still weighing on the market. Old crop soybean export sales for the week of 6/14 totaled 301,745 MT, edging into traders estimates. That was better than the same week last year. The Netherlands purchased 240,300 MT, with most switched from unknown destinations. China canceled 66,000 MT. Sales of new crop soybeans totaled 227,605 MT. Soy meal sales were tallied at 120,106 MT, as 18,777 MT was reported for soy oil.

Jul 18 Soybeans are at $8.83 1/4, down 6 1/4 cents,

Aug 18 Soybeans are at $8.88 1/2, down 6 cents,

Sep 18 Soybeans are at $8.94, down 6 1/4 cents,

Nov 18 Soybeans are at $9.04, down 6 1/2 cents,

Jul 18 Soybean Meal is at $332.40, down $0.80

Jul 18 Soybean Oil is at $29.23, down $0.14


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