Soybean futures closed the day steady to 3 1/2 cents lower on profit taking in front of the Memorial Day holiday. Soymeal was down $3.40/ton, with front month soy oil a point higher. A private export sale to unknown of 264,000 MT of new crop beans was reported through the USDA’s daily reporting system. This morning’s Export Sales report showed a net reduction of 139,450 MT in old crop sales. Pakistan purchased 248,000 MT, with Bangladesh at 173,100 MT, but a cancelation of 894,500 MT to unknown (previously announced) offset that. New crop sales were reported at just 6,889 MT. Export shipments in the week of 5/17 were well above last year totaling 903,873 MT, with 133,200 MT to China. Soy meal sales were shown at 196,873 MT, with a 42,641 MT cancelation for 18/19. Sales of soy oil were tallied at 17,698 MT. Argentina’s Ag Ministry now sees their country’s soybean crop at 36.6 MMT, down 1 from their previous estimate.

Jul 18 Soybeans closed at $10.35 3/4, down 3 1/2 cents,

Aug 18 Soybeans closed at $10.39 3/4, down 3 1/2 cents,

Sep 18 Soybeans closed at $10.42 3/4, down 2 1/4 cents,

Jan 19 Soybeans closed at $10.50 3/4, down 1 1/4 cents,

Jul 18 Soybean Meal closed at $377.30, down $3.40,

Jul 18 Soybean Oil closed at $31.71, 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.