Soybean Market News and Commentary

Soybean futures are showing 11 to 12 cent gains in most contracts at midday. Hopes of progress in this week’s US/China meeting in Beijing are helping the market. Meal futures are up $3.40/ton in the nearby contracts, with soy oil 13 points higher. Brazil’s estimated 18/19 soybean production is now at 115.34 MMT according to CONAB. That was down 3.46 MMT from the prior projection and is 1.66 MMT below the current USDA forecast. They also trimmed projected exports in the 18/19 MY by 3.5 MMT to 71.5 MMT.

Mar 19 Soybeans are at $9.17, up 12 cents,

May 19 Soybeans are at $9.31, up 11 3/4 cents,

Jul 19 Soybeans are at $9.44 1/2, up 11 1/2 cents,

Aug 19 Soybeans are at $9.50, up 11 1/2 cents,

Mar 19 Soybean Meal is at $308.30, up $3.40

Mar 19 Soybean Oil is at $30.37, up $0.13

--provided by Brugler Marketing & Management

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