Soybeans

Soybean futures finished somewhat strong on Wednesday, considering March settled 7 1/2 cents off the low up 3/4 cent. Meal futures were $1.50/ton higher, with nearby soy oil 28 points lower. The USDA reported a private export sale of 130,000 MT of soybeans for 18/19 delivery to Unknown Destinations through their daily reporting system. Prevent plant acres in the FSA’s final report were at 435,430 acres for the 2017 soybean crop. That was well above last year’s 236,609 acres. In Brazil’s largest soybean producing state of Mato Grosso, forward sales have totaled nearly 42% of the 17/18 soybean crop, lagging last year’s pace of 55%.

Mar 18 Soybeans closed at $9.68 3/4, up 3/4 cent,

May 18 Soybeans closed at $9.80, up 1/2 cent,

Jul 18 Soybeans closed at $9.89 1/2, up 1/2 cent,

Sep 18 Soybeans closed at $9.89 1/2, unch,

Mar 18 Soybean Meal closed at $324.30, up $1.50,

Mar 18 Soybean Oil closed at $32.51, down $0.28




Market Commentary provided by:

Brugler Marketing & Management LLC
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Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

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