Soybean futures are trading 2 to 2 1/4 cents in the green on Wednesday. Meal futures are up $1.10/ton, with nearby soy oil 9 points higher. The CME group hiked meal margin requirements from $1000 to $1200. Analysts are expecting Thursday’s NOPA report to show 165.511 mbu of soybeans were crushed during January. That would be 3.04% larger than the same time month last year. Soy oil stocks at the end of January are seen at 1.603 billion pounds, which would be above December but below last January. The USDA is expected to show 450,000-750,000 MT in old crop soybean export sales in Thursday’s report, with 0-100,000 MT for new crop. There is also 150,000-450,000 MT seen for soy meal sales and 10,000-30,000 MT expected for sales of soy oil.

Mar 18 Soybeans are at $10.13 3/4, up 2 cents,

May 18 Soybeans are at $10.24 1/2, up 2 1/4 cents,

Jul 18 Soybeans are at $10.34, up 2 cents,

Aug 18 Soybeans are at $10.35 1/2, up 2 cents,

Mar 18 Soybean Meal is at $366.30, up $1.10

Mar 18 Soybean Oil is at $31.66, up $0.09

Market Commentary provided by:

Brugler Marketing & Management LLC
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