Soybean Market News and Commentary

Soybean futures posted losses of 11 to 12 cents in the front months on Wednesday. Meal futures are $3.80/ton lower in the nearby contract, with soy oil down 22 points. The market is still looking for that missing 10 MMT of Chinese purchases mentioned by Secretary Sonny. Thursday morning’s Export Sales report for the week of 2/28 is expected to show 0.6-1 MMT in 18/19 soybean sales, with 0-150,000 MT for 19/20. 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 bump 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.

Mar 19 Soybeans closed at $8.89 3/4, down 11 1/2 cents,

May 19 Soybeans closed at $9.02, down 11 3/4 cents,

Jul 19 Soybeans closed at $9.15 3/4, down 12 cents,

Sep 19 Soybeans closed at $9.27, down 11 1/2 cents,

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

Mar 19 Soybean Oil closed at $29.51, down $0.22

--provided by Brugler Marketing & Management

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