Soybean futures are trading 4 to 5 cents in the green, following Thursday’s losses. December meal is up $2.80/ton, with nearby bean oil down 15 points. The USDA raised the average farm price for soybeans 10 cents to $8.45 - $10.15, with the midpoint @ $9.30. Carryover from 16/17 was increased 1.42 MMT in yesterday’s USDA report, causing 17/18 ending stock to bump higher. The USDA reported 2.52 MMT of soybean exports during the week of 11/2. That was 6.2% lower than last week and down 14.1% from this week a year ago. Soybean export commitments so far this year are now lagging last year by 12.9%, losing ground since last week on fewer sales and shipments.

Nov 17 Soybeans are at $9.79 3/4, up 4 1/2 cents,

Jan 18 Soybeans are at $9.89, up 4 cents,

Mar 18 Soybeans are at $10.00, up 4 cents,

May 18 Soybeans are at $10.09 1/4, up 4 1/4 cents,

Dec 17 Soybean Meal is at $314.60, up $2.80

Dec 17 Soybean Oil is at $34.99, down $0.15

Market Commentary provided by:

Brugler Marketing & Management LLC
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