AgriCharts Market Commentary

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Soybeans Market News and Commentary

December 14, 2018

Soybean futures closed Friday with losses of 6 to 6 3/4 cents, despite another export sale to China. Dec soy meal expired at $309.40/ton, with soy oil at 28.39 cents/lb. Separate soybean export sales of 300,000 MT to China and another 130,000 MT to Unknown both for 18/19 delivery were reported through the USDA’s daily reporting system this morning. This afternoon’s Commitment of Traders report showed specs in soybean futures and options trimming their net short position by 6,525 contracts as of 12/11 to -11,068 contracts. Analysts estimated Monday’s NOPA report will show 168.444 mbu of soybeans crushed by its members during November. Soy oil stocks are projected to total 1.503 billion pounds. The Buenos Aires Grain Exchange estimated that 68.8% of the Argentine soybean crop is planted, above the 66.9% average pace. They also pegged the initial conditions at 19.1% gd/ex, vs. 49.3% gd/ex last year.

Jan 19 Soybeans closed at $9.00 1/2, down 6 1/2 cents,

Mar 19 Soybeans closed at $9.13 3/4, down 6 3/4 cents,

May 19 Soybeans closed at $9.27, down 6 1/4 cents,

Aug 19 Soybeans closed at $9.43, down 6 1/4 cents,

Dec 18 Soybean Meal closed at $309.40, unch,

Dec 18 Soybean Oil closed at $28.39, down $0.25

--provided by Brugler Marketing & Management

Soybeans Market News and Commentary

December 14, 2018

Soybean futures are trading 3 to 4 cents lower on Friday. Dec soy meal is down $1.40/ton, with soy oil 16 points lower, as both nearby contracts expire today. Separate soybean export sales of 300,000 MT to China and another 130,000 MT to Unknown both for 18/19 delivery were reported through the USDA’s daily reporting system this morning. Export commitments for soybeans were 33.8% lower than a year ago as of December 6. They were just 48% of USDA’s full year projection prior to the Chinese buys, compared to the 75% average. Analysts estimated Monday’s NOPA report will show 168.444 mbu of soybeans crushed by its members during November. Soy oil stocks are projected to total 1.503 billion pounds. The Buenos Aires Grain Exchange estimated that 68.8% of the Argentine soybean crop is planted, above the 66.9% average pace. They also pegged the initial conditions at 19.1% gd/ex, vs. 49.3% gd/ex last year.

Jan 19 Soybeans are at $9.03 3/4, down 3 1/4 cents,

Mar 19 Soybeans are at $9.17 1/4, down 3 1/4 cents,

May 19 Soybeans are at $9.30 1/4, down 3 cents,

Jul 19 Soybeans are at $9.41 1/2, down 3 1/2 cents,

Dec 18 Soybean Meal is at $309.40, down $1.40

Dec 18 Soybean Oil is at $28.64, down $0.16

--provided by Brugler Marketing & Management

Soybeans Market News and Commentary

December 14, 2018

Soybean futures are currently 2 cents per bushel lower after settling with 12 to 13 cent losses in the front months on Thursday. Preliminary open interest dropped only 621 contracts, indicating rotation of ownership was the primary activity rather than long liquidation. March soy meal was down $4.10/ton, with soy oil 16 points lower. Soybeans showed some “buy the rumor, sell the fact” action following USDA confirmation of 1.13 MMT of export sales to China. The weekly Export Sales report (through December 6) indicated 792,269 MT of 18/19 soybeans were sold, within the range of pre-report estimates. That was down 11.1% from the week prior and 42.7% smaller than the same week in 2017. Shipments of soybeans totaled 1.147 MMT, 3.7% behind this week a year ago. Soybean meal sales totaled just 50,539 MT (a marketing year low), with soy oil at 5,928 MT.

--provided by Brugler Marketing & Management

Soybeans Market News and Commentary

December 13, 2018

Soybean futures settled with 12 to 13 cent losses in the front months on Thursday. March soy meal was down $4.10/ton, with soy oil 16 points lower. Soybeans showed some “buy the rumor, sell the fact” action following USDA confirmation of export sales to China. USDA reported private export sales of 1.13 MMT of 2018/19 soybeans to China this morning, the ninth largest daily soybean sale on record. The weekly Export Sales report indicated 792,269 MT of 18/19 soybeans were sold in the week ending 12/6, within the range of pre-report estimates. That was down 11.1% from the week prior and 42.7% smaller than the same week in 2017. Shipments of soybeans totaled 1.147 MMT, 3.7% behind this week a year ago. Soybean meal sales totaled just 50,539 MT (a marketing year low), with soy oil at 5,928 MT.

Jan 19 Soybeans closed at $9.07, down 13 cents,

Mar 19 Soybeans closed at $9.20 1/2, down 12 3/4 cents,

May 19 Soybeans closed at $9.33 1/4, down 12 1/2 cents,

Aug 19 Soybeans closed at $9.49 1/4, down 12 cents,

Mar 18 Soybean Meal closed at $308.50, down $4.10,

Dec 18 Soybean Oil closed at $28.64, down $0.16

--provided by Brugler Marketing & Management

Soybeans Market News and Commentary

December 13, 2018

Soybean futures are trading 9 to 10 1/4 cents lower on Thursday, showing some “buy the rumor sell the fact” action following USDA announcement of export sales to China. March soy meal is down $2.50/ton, with soy oil 9 points higher. USDA reported private export sales of 1.13 MMT of 18/19 soybeans to China this morning, the ninth largest daily soybean sale on record. The weekly Export Sales report indicated 792,269 MT of 18/19 soybeans were sold in the week if 12/6, in the range of estimates. That was down 11.1% from the week prior and 42.7% lower than the same week in 2017. The Netherlands were the top buyer of 140,600 MT, as China cancelled another 60,000 MT in that week. The prior mentioned 1.13 MMT in sales to China will be shown in next week’s report. Soybean meal sales totaled just 50,539 MT, with soy oil at 5,928 MT.

Jan 19 Soybeans are at $9.09 3/4, down 10 1/4 cents,

Mar 19 Soybeans are at $9.23, down 10 1/4 cents,

May 19 Soybeans are at $9.35 1/2, down 10 1/4 cents,

Jul 19 Soybeans are at $9.47, down 10 1/4 cents,

Mar 18 Soybean Meal is at $310.10, down $2.50

Dec 18 Soybean Oil is at $28.80, up $0.09

--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