Soybean Market News and Commentary

Soybean futures ended the Thursday session with most contracts 2 to 3 cents lower. March meal futures expired up 1.60/ton, with soy oil down 29 points. March futures expired today. This morning’s Export Sales report showed 1.912 MMT of old crop soybean bookings in the week that ended on March 7. That was just above the top end of trade estimates and 50.6% larger than the same week in 2018. Most of that was known sales to China (1.708 MMT total), with Mexico the next largest buyer of 67,500 MT. Year to date soybean commitments for export are now 16.4% below a year ago, catching up from previous weeks. Weekly meal sales totaled 225,978MT, with soy oil at 13,986 MT. Both were in the mainstream of trade ideas.

Mar 19 Soybeans closed at $8.89 1/2, up 1/2 cent,

May 19 Soybeans closed at $8.98 1/2, down 2 1/2 cents,

Jul 19 Soybeans closed at $9.12 1/4, down 2 1/2 cents,

Sep 19 Soybeans closed at $9.23 1/4, down 2 1/2 cents,

Mar 19 Soybean Meal closed at $301.80, up $1.60,

Mar 19 Soybean Oil closed at $29.40, down $0.29

--provided by Brugler Marketing & Management




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