Soybeans Market Commentary

Soybean futures are mostly 3-4 cents lower at midday, with Sep higher on thin trade ahead of Friday’s expiration. Soymeal is down $1.70/ton, with soy oil UNCH. Private export sales reported by the USDA this morning saw 108,010 MT to Mexico (18/19), with 40,000 MT (18/19) and 80,000 MT (19/20) to Unknown. FAS showed that 693,453 MT of 18/19 soybeans were sold for export in the week that ended on September 6. There was also 2.430 MMT carried over from leftover 17/18 sales. Soymeal export sales in that week totaled 233,194 MT, with soy oil at 5,176 MT. The USDA cut their national average can price projection for soybeans another 30 cents on Wednesday to $7.35-$9.85, with an $8.60 mid-point.

Sep 18 Soybeans are at $8.31 3/4, up 2 3/4 cents,

Nov 18 Soybeans are at $8.36 1/4, down 3 3/4 cents,

Jan 19 Soybeans are at $8.50, down 3 1/2 cents,

Mar 19 Soybeans are at $8.62 3/4, down 3 1/4 cents,

Sep 18 Soybean Meal is at $314.00, down $1.70

Sep 18 Soybean Oil is at $27.63, unch,

Market Commentary provided by:

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