Soybean Market News and Commentary

Soybean futures are mostly 8 to 9 1/2 cents in the red at midday. Meal futures are down $2/ton in the nearby contract, with soy oil 19 points lower. The USDA reported a private export sale of 664,000 MT of soybeans to China for 18/19 delivery. The meeting between President Trump and President Xi or China, rumored for the end of March, will be later than that according to news reports. China hiked projected full year soy imports to 85 MMT from 83.65 MMT, citing lower canola imports. USDA is at 88 MMT. The US S&D table was shown at a 10 mbu lower carryout for 18/19 of 900 mbu this morning, as crush was raised by that same number. World ending stocks were up 0.45 MMT to 107.17 MMT, with Chinese crush down 1 MMT. Brazilian production was trimmed by 0.5 MMT to 116.5 MMT.

Mar 19 Soybeans are at $8.82 1/4, down 8 1/2 cents,

May 19 Soybeans are at $8.93 1/2, down 9 cents,

Jul 19 Soybeans are at $9.07 1/4, down 9 1/4 cents,

Aug 19 Soybeans are at $9.13 3/4, down 9 cents,

Mar 19 Soybean Meal is at $300.00, down $2.00

Mar 19 Soybean Oil is at $29.22, down $0.19

--provided by Brugler Marketing & Management




Market Commentary provided by:

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