Soybean Market News and Commentary

Soybean futures are down 10 to 11 1/2 cents in most contracts on Wednesday. Meal futures are $3.80/ton lower in the nearby contract, with soy oil 18 points in negative territory. Actual Census data released this morning indicated that 4.105 MMT (150.86 mbu) of US soybeans were shipped in December. That was a drop of 19% from Nov and still 34% below last year. Soy meal exports were at 1.082 MMT, a slight jump from Dec 2017. BR-163, the main highway toward the Amazon ports in Brazil is currently closed due to flooding with estimates of 3000-5000 trucks prevented from reaching export ports. Money managers in soybean futures and options were reported at a net short position of 35,982 contracts as of 2/26. Commitment of Traders data will finally be back up to current date in this Friday’s report.

Mar 19 Soybeans are at $8.90, down 11 1/4 cents,

May 19 Soybeans are at $9.02 1/4, down 11 1/2 cents,

Jul 19 Soybeans are at $9.16 1/4, down 11 1/2 cents,

Aug 19 Soybeans are at $9.22 3/4, down 11 cents,

Mar 19 Soybean Meal is at $301.80, down $3.80

Mar 19 Soybean Oil is at $29.55, down $0.18

--provided by Brugler Marketing & Management

Market Commentary provided by:

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