AgriCharts Market Commentary

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Soybeans Get Boost from Soy Oil

April 18, 2019

Soybean futures settled 1 to 1 3/4 cents higher on position squaring ahead of the 3-day holiday weekend. Meal futures were down $.70/ton but May soy oil was 34 points higher (worth almost 4 cents per bushel in product value). This morning’s weekly USDA Export Sales report confirmed net soybean sales of 382,100 MT for old crop and 21,100 MT for new crop. Meal sales were expected to be 125,000-325,000 MT, with soy oil at 8,000-30,000 MT. The actual meal bookings were on the high side of expectations at 295,300 MT, with soy oil at 24,200 MT.

May 19 Soybeans closed at $8.80 1/2, up 1 1/2 cents,

Jul 19 Soybeans closed at $8.94 1/4, up 1 3/4 cents,

Aug 19 Soybeans closed at $9.00, up 1 1/2 cents,

Sep 19 Soybeans closed at $9.04 3/4, up 1 1/4 cents,

May 19 Soybean Meal closed at $303.20, down $.70,

May 19 Soybean Oil closed at $28.80, up .34

--provided by Brugler Marketing & Management

Soybean Market Creeps Into Positive Territory

April 18, 2019

Soybean futures are fractionally higher on position squaring ahead of the 3-day holiday weekend. Meal futures are down $.40/ton and May soy oil is 21 points higher. This morning’s USDA Export Sales report was expected to show 350,000-800,000 MT in old crop soybean bookings for the week of 4/11, with new crop at 0-60,000 MT. USDA confirmed net soybean sales of 382,100 MT for old crop and 21,100 MT for new crop. Meal sales were expected to be 125,000-325,000 MT, with soy oil at 8,000-30,000 MT. The actual meal books were on the high side of expectations at 295,300 MT, with soy oil at 24,200 MT. US Soybean exports in February were the 5th largest monthly total on record, 4.577 MMT. That was up 8.65% yr/yr, but down 5.2% from January. Shipments to China were slightly larger than in 2018.

May 19 Soybeans are at $8.80, up 1 cent,

Jul 19 Soybeans are at $8.93 3/4, up 1 1/4 cents,

Aug 19 Soybeans are at $8.99 1/2, up 1 cent,

Sep 19 Soybeans are at $9.04 1/4, up 3/4 cent,

May 19 Soybean Meal is at $303.50, down $0.40,

May 19 Soybean Oil is at $28.67, up $0.21

--provided by Brugler Marketing & Management

Soybean Market Up 1 to 2 Ahead of Export Sales

April 18, 2019

Soybean futures are 1 to 1 3/4 cents higher ahead of the release of the weekly Export Sales report. They were down 7 3/4 to 9 1/4 on Wednesday. Meal futures were down $2.60/ton and May soy oil was 261 points lower. This morning’s USDA Export Sales report is expected to show 350,000-800,000 MT in old crop soybean bookings for the week of 4/11, with new crop at 0-60,000 MT. Meal sales are seen at 125,000-325,000 MT, with soy oil at 8,000-30,000 MT. US Soybean exports in February were the 5th largest monthly total on record, 4.577 MMT. That was up 8.65% yr/yr, but down 5.2% from January. Shipments to China were slightly larger than in 2018. --provided by Brugler Marketing & Management

Soybeans See More Selling On Brazil Estimates

April 17, 2019

Soybean futures were down 7 3/4 to 9 1/4 today, following double digit losses on Tuesday. Meal futures are down another $2.60/ton and May soy oil was 261 points lower. Analysts with Brazilian consultancy Celeres expect the country’s 2018/19 soybean crop to total 115.8 MMT, up 2 MMT from their prior projection. Thursday’s USDA Export Sales report is expected to show 350,000-800,000 MT in old crop soybean bookings for the week of 4/11, with new crop at 0-60,000 MT. Meal sales are seen at 125,000-325,000 MT, with soy oil at 8,000-30,000 MT. Soybean exports throughout February were the 5th largest monthly total on record, 4.577 MMT. That was up 8.65% yr/yr, but down 5.2% from January. Shipments to China were slightly larger than in 2018.

May 19 Soybeans closed at $8.79, down 9 cents,

Jul 19 Soybeans closed at $8.92 1/2, down 9 1/4 cents,

Aug 19 Soybeans closed at $8.98 1/2, down 9 cents,

Sep 19 Soybeans closed at $9.03 1/2, down 8 cents,

May 19 Soybean Meal closed at $0.00, down 2 3/5,

May 19 Soybean Oil closed at $0.00, down 13/50

--provided by Brugler Marketing & Management

Soybeans Showing Follow Through Selling from Tuesday

April 17, 2019

Soybean futures are down 7 to 8 3/4 cents at midday, following double digit losses on Tuesday. Meal futures are down $2.50/ton and May soy oil 21 points lower Thursday’s Export Sales report is expected to show 350,000-800,000 MT in old crop soybean bookings for the week of 4/11, with new crop at 0-50,000 MT. Meal sales are seen at 125,000-325,000 MT, with soy oil at 8,000-30,000 MT. Soybean exports throughout February were the 5th largest monthly total on record, 4.577 MMT. That was up 8.65% yr/yr, but down 5.2% from January. Shipments to China were slightly larger than in 2018. Analysts with Brazilian consultancy Celeres expect the country’s 2018/19 soybean crop to total 115.8 MMT, up 2 MMT from their prior projection.

May 19 Soybeans are at $8.79 1/4, down 8 3/4 cents,

Jul 19 Soybeans are at $8.93, down 8 3/4 cents,

Aug 19 Soybeans are at $8.99, down 8 1/2 cents,

Sep 19 Soybeans are at $9.04 1/4, down 8 cents,

May 19 Soybean Meal is at $304.00, down $2.50

May 19 Soybean Oil is at $28.51, down $0.21

--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