AgriCharts Market Commentary

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Soybeans End Tuesday Higher

August 20, 2019

Soybeans futures were 1 1/2 to 1 3/4 cents per bushel higher in the nearby contracts on Turnaround Tuesday. Meal futures were up $2.00/ton, as soy oil was 25 points lower. Losses in soybean crop ratings last week helped to support the market as the 7-day QPF shows up to 2 inches upcoming for a good part of the Midwest. Monday’s conditions by state showed Brugler500 ratings up 7 points in IL, 5 in SD, and 2 points higher in IN. Conditions in IA were down 5 points, with MO 4 points lower and NE down 3. Results from day one of the Midwest Crop Tour had pod counts in the OH and SD lower than normal, consistent with the delayed progress. Day two results from IN and NE will be announced tonight.

SEP 19 Soybeans closed at $8.55 3/4, up 1 3/4 cents,

NOV 19 Soybeans closed at $8.68 1/4, up 1 3/4 cents,

JAN 19 Soybeans closed at $8.82, up 1 1/2 cents,

MAR 20 Soybeans closed at $8.95 1/4, up 1 1/2 cents,

SEP 19 Soybean Meal closed at $294.00, up $2.00,

SEP 19 Soybean Oil closed at $28.43, down $0.25

--- provided by Brugler Marketing & Management


Soybeans Up at Midday

August 20, 2019

Soybeans futures are 2 1/4 to 2 1/2 cents per bushel higher at midday. Meal futures are up $2.40 and soy oil is 26 points lower. The US soybeans crop progress data shows 90% of the crop blooming (96% avg), with 68% setting pods (85% avg). Condition ratings were down 1% to a 54% g/ex rating, with a Brugler500 index rating 2 points lower at 344. Results from day one of the Midwest Crop Tour had pod counts down as much as 39% from last year. Many of the fields were still blooming, resulting in incomplete pod counts. Of the states surveyed, South Dakota had 59% of the crop setting pods, with Ohio at 54%, both well behind average.

SEP 19 Soybeans are at $8.56 1/4, up 2 1/4 cents,

NOV 19 Soybeans are at $8.69, up 2 1/2 cents,

JAN 19 Soybeans are at $8.82 3/4, up 2 1/4 cents,

MAR 20 Soybeans are at $8.96, up 2 1/4 cents,

SEP 19 Soybean Meal is at $294.40, up $2.40,

SEP 19 Soybean Oil is at $28.42, down $0.26

--- provided by Brugler Marketing & Management

Soybeans 6 to 7 Cents Higher on Low Pod Counts

August 20, 2019

Soybeans futures are 6 to 7 cents per bushel higher this morning after double digit losses on Monday. Meal futures are up more than $2 from their Monday close and soy oil is 21 points higher. The US soybeans crop progress data shows 90% of the crop blooming (96% avg), with 68% setting pods (85% avg). Condition ratings were down 1% to a 54% g/ex rating, with a Brugler500 index rating 2 points lower at 344. Monday’s Export Inspections report indicated 1.16 MMT of soybeans were shipped in the week ending August 15. That was 22% higher than the week prior and a 75% increase over the same week in 2018. A total of 551,235 MT was headed to China. Results from day one of the Midwest Crop Tour had pod counts down as much as 39% from last year. Many of the fields were still blooming, resulting in incomplete pod counts. --- provided by Brugler Marketing & Management

Soybeans Decline on Monday

August 19, 2019

Soybeans futures ended Monday’s trade session 12 3/4 to 13 1/4 cents lower. Meal futures were down $2.90/ton and soy oil 45 points lower. The US soybeans crop progress data shows 90% of the crop blooming (96% avg), with 68% setting pods (85% avg). Condition ratings were down 1% to a 54% g/ex rating, with a Brugler500 index rating 2 points lower at 344. This morning’s Export Inspections report indicated that 1.16 MMT of soybeans were shipped in the week that ended on August 15. That was a 22% higher than the week prior and a 75% increase over the same week in 2018. A total of 551,235 MT was headed to China. Results from day one the ProFarmer Midwest Crop Tour will be out later tonight. Many of the fields were still blooming, resulting in incomplete pod counts.

SEP 19 Soybeans closed at $8.54, down 13 1/4 cents,

NOV 19 Soybeans closed at $8.66 1/2, down 13 1/4 cents,

JAN 19 Soybeans closed at $8.80 1/2, down 13 cents,

MAR 20 Soybeans closed at $8.93 3/4, down 12 3/4 cents,

SEP 19 Soybean Meal closed at $292.00, down $2.90,

SEP 19 Soybean Oil closed at $28.68, down $0.45

--- provided by Brugler Marketing & Management


Soybeans Lower at Midday

August 19, 2019

Soybeans futures are trading 11 to 12 cents lower. Meal futures are down $2.30/ton and soy oil 50 points lower. Areas of dryness shrank over the weekend in the ECB, with up to 2.5 inches reported in western Ohio and 1+ inches in northern IL. It was T-storm activity, so not everyone got it, but some of the pockets on the Drought Monitor got meaningful rain. This morning’s Export Inspections report indicated that 1.16 MMT of soybeans were shipped in the week that ended on August 15. That was a 22% higher from the week prior, and a 75% increase over the same week in 2018. A total of 551,235 MT was headed to China. Friday’s report showed money managers reduced their CFTC net short positions this week to 66,450, a decline of 9%.

SEP 19 Soybeans are at $8.55 1/2, down 11 3/4 cents,

NOV 19 Soybeans are at $8.67 3/4, down 12 cents,

JAN 19 Soybeans are at $8.81 1/2, down 12 cents,

MAR 20 Soybeans are at $8.95, down 11 1/2 cents,

SEP 19 Soybean Meal is at $292.60, down $2.30,

SEP 19 Soybean Oil is at $28.63, down $0.50

--- 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