Soybean futures are down 4 to 5 3/4 cents in the front months on Thursday, with traders getting ready for Friday. Nearby soy meal is down $1.90/ton, with soy oil up 1 point. A private export sale of 135,000 MT of 18/19 soymeal to the Philippines was reported through the USDA’s daily reporting system this morning. Old crop soybean sales were shown at 421,841 MT in the week that ended on August 2, exceeding expectations. That was well above last week’s total, as net reductions to unknown (-543,500 MT) were more than offset by sales. New crop sales were slightly lower than the week prior at 532,540 MT. Soy meal sales totaled 129,512 MT, with soy oil at 10,903 MT. The average trade estimate for Friday’s WASDE report has old crop world ending stocks at 95.9 MMT, while new crop carryout is seen at 99.5 MMT. CONAB’s monthly crop report bumped their Brazilian soybean production estimate up 0.13 to 118.99 MMT, matching USDA’s July number.

Aug 18 Soybeans are at $8.88, down 5 3/4 cents,

Sep 18 Soybeans are at $8.95 1/2, down 4 1/4 cents,

Nov 18 Soybeans are at $9.06 1/4, down 4 1/4 cents,

Jan 19 Soybeans are at $9.17 3/4, down 4 cents,

Aug 18 Soybean Meal is at $335.20, down $1.90

Aug 18 Soybean Oil is at $28.46, up $0.01

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.