Soybeans Market Commentary

Soybean futures are trading 1 to 2 cents higher on Thursday with most contracts backing off the highs. Front month soy meal is down $1.40/ton, with soy oil up 7 points. The monthly NOPA report indicated that its members crushed 172.346 mbu of soybeans during October, exceeding expectations. That all-time record was 4.93% larger than last year and up 7.19% from September. Soy oil stocks were at 1.502 billion pounds, down 1.88% from last month. Trade estimates are running 400,000-700,000 MT for 18/19 soybean export sales for the week that ended 11/8. Soy meal sales are expected at 100,000-400,000 MT, with soy oil at 5,000-30,000 MT.

Jan 19 Soybeans are at $8.85, up 1 1/2 cents,

Mar 19 Soybeans are at $8.98 1/2, up 1 3/4 cents,

May 19 Soybeans are at $9.11 3/4, up 1 1/2 cents,

Jul 19 Soybeans are at $9.24 1/2, up 1 1/4 cents,

Dec 18 Soybean Meal is at $304.30, down $1.40

Dec 18 Soybean Oil is at $27.64, up $0.07

--provided by Brugler Marketing & Management

Market Commentary provided by:

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