Soybeans

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




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