Soybean Market News and Commentary

Soybean futures are trading 3 to 4 cents per bushel higher this morning. They 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. This 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. Census data released yesterday indicated that 4.105 MMT (150.86 mbu) of US soybeans were shipped in December. That was a drop of 19% from Nov and 34% below last year. Soy meal exports were 1.082 MMT, a slight bump from Dec 2017. BR-163, the main highway toward the Amazon ports in Brazil is currently closed, with estimates of 3000-5000 trucks prevented from reaching export ports.

--provided by Brugler Marketing & Management

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