Soybeans Market Commentary

Soybean futures are currently 9 to 10 cents higher after closing 5 to 5 1/4 cents higher on Wednesday. Nov expired at $8.70 1/2, up 3 1/4 cents. Front month soy meal was up $1.80/ton, with soy oil 2 points higher. USDA reported a private export sale of 148,000 MT of 18/19 soybeans to unknown destinations yesterday morning. That was the second sale in as many days for a combined 424,732 MT. The US dollar index was also weaker. In Tuesday afternoon’s Crop Progress report indicated just 2 (IL & NC) of the 18 reported states above the normal harvest pace. NOPA data for October will be released on Thursday morning.

--provided by Brugler Marketing & Management




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