AgriCharts Market Commentary

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Soybeans Higher on Spillover from Corn, Narrowing Planting Window

June 14, 2019

Soybean futures saw 8 to 8 3/4 cent gains in most contracts on Friday, with July up 4.73% this week. Spillover from corn was supportive, along with forecasts calling for heavy rainfall totals in the ECB. Soymeal was up $1.80/ton, with bean oil 41 points lower. A Private export sale of 130,000 MT of soybeans to Unknown Destinations for 18/19 was reported this morning. An additional sale of 130,0000 MT of 18/19 beans to China was offset by a cancellation of 136,000 MT. Ahead of NOPA’s monthly crush update, analysts expect the report to show that members crushed 162.474 mbu of soybeans in May. Friday’s Commitment of Traders report showed money managers backing off their net short position in soybean futures and options by 2,201 contracts as of Tuesday to a net position of -91,155 contracts.

Jul 19 Soybeans closed at $8.96 3/4, up 8 3/4 cents,

Aug 19 Soybeans closed at $9.03, up 8 1/2 cents,

Sep 19 Soybeans closed at $9.10, up 8 1/4 cents,

Jan 20 Soybeans closed at $9.35, up 8 1/4 cents,

Jul 19 Soybean Meal closed at $323.50, up $1.80,

Jul 19 Soybean Oil closed at $27.61, down $0.41

--provided by Brugler Marketing & Management

Soybeans Higher on Spillover from Corn

June 14, 2019

Soybean futures are trading 3 to 5 1/4 cents higher in the front months on Friday. Soymeal is yup $1.20/ton, with bean oil 25 points lower. A Private export sale of 130,000 MT of soybeans to Unknown Destinations for 18/19 was reported this morning. An additional sale of 130,0000 MT of 18/19 beans to China was offset by a cancellation of 136,000 MT. Ahead of NOPA’s monthly crush update, analysts expect the report to show that members crushed 162,474 mbu of soybeans in May.

Jul 19 Soybeans are at $8.93 1/4, up 5 1/4 cents,

Aug 19 Soybeans are at $8.99 1/2, up 5 cents,

Sep 19 Soybeans are at $9.06 1/2, up 4 3/4 cents,

Nov 19 Soybeans are at $9.19 3/4, up 4 1/2 cents,

Jul 19 Soybean Meal is at $322.90, up $1.20

Jul 19 Soybean Oil is at $27.77, down $0.25

--provided by Brugler Marketing & Management

Soybean Market Extends Gains on Wet US Forecasts

June 14, 2019

Soybean futures are 4 to 5 cents higher this morning after 9 to 10 cent gains in the front months on Thursday. Planting delays are beginning to become more worrisome. Soymeal was up $2.20/ton, with bean oil 46 points higher. The weekly Export Sales report from USDA showed old crop soybean bookings near trade estimates at 255,929 MT during the week of June 6. Egypt bought 110,000 MT. New crop sales were on the high side of estimates at 275,163 MT. The US is the cheapest origin for anyone not required to pay the Chinese tariff. Chinese buyers have a total of 6.342 MMT of unshipped soybeans on the books, with a Reuters report showing that some are seeking to delay cargoes from July to August.

--provided by Brugler Marketing & Management

Soybeans Get Help from Spillover in Corn

June 13, 2019

Soybean futures closed with 9 to 10 cent gains in the front months, supported by spillover from corn. Shorts covering was also supportive as planting delays are beginning to become more worrisome. Soymeal was up $2.20/ton, with bean oil 46 points higher. The weekly Export Sales report from USDA showed old crop soybean bookings near trade estimates at 255,929 MT during the week of June 6. Egypt bought 110,000 MT. New crop sales were on the high side of estimates at 275,163 MT. Chinese buyers have a total of 6.342 MMT of unshipped soybeans on the books, with a Reuters report showing that some are seeking to delay cargoes from July to August. Meal export sales totaled 153,967 MT this morning, with soy oil sales at 5,136 MT.

Jul 19 Soybeans closed at $8.88, up 10 cents,

Aug 19 Soybeans closed at $8.94 1/2, up 9 3/4 cents,

Sep 19 Soybeans closed at $9.01 3/4, up 10 cents,

Jan 20 Soybeans closed at $9.26 3/4, up 9 cents,

Jul 19 Soybean Meal closed at $321.70, up $2.20,

Jul 19 Soybean Oil closed at $28.02, up $0.46

--provided by Brugler Marketing & Management

Soybean See Green at Midday

June 13, 2019

Soybean futures are up 9 to 10 1/4 cents on Thursday on spillover from corn. Shorts are also continuing to cover as planting delays are beginning to become more worrisome. Soymeal is up $3/ton, with bean oil 41 points higher. The weekly Export Sales report from USDA showed old crop soybean bookings making their way into the range of estimates at 255,929 MT during the week of June 6. Egypt bought 110,000 MT, with 185,200 MT in net reductions for unknown (mostly switched to a destination). New crop sales were on the high side of estimates at 275,163 MT. Chinese buyers have a total of 6.342 MMT of unshipped soybeans on the books, with a Reuters report showing that some are seeking to delay cargoes from July to August. Meal export sales totaled 153,967 MT this morning, with soy oil sales at 5,136 MT.

Jul 19 Soybeans are at $8.88 1/4, up 10 1/4 cents,

Aug 19 Soybeans are at $8.94 3/4, up 10 cents,

Sep 19 Soybeans are at $9.02, up 10 1/4 cents,

Nov 19 Soybeans are at $9.15 1/2, up 10 cents,

Jul 19 Soybean Meal is at $322.50, up $3.00

Jul 19 Soybean Oil is at $27.97, up $0.41

--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