Soybeans 8 to 9 Lower on Poor Export Prospects

Soybean futures are 8 to 9 cents lower on Thursday morning after showing 11 to 12 cent losses in the nearby contracts on Wednesday. Soy meal was down $3.30/ton, with bean oil down 27 points. Forecasts for the next few days show areas of dryness to allow for some planting progress. Analysts with IEG Vantage estimate that 2019 US soybean planted acres will total 85.037 million, with a projected national average yield at 51.1 bpa. The USDA Export Sales report is expected to show 200,000-500,000 MT of old crop soybeans sold in the week ending May 30, with 50,000-25,000 MT for new crop. Soy Meal sales are seen at 100,000-350,000 MT, with soy oil at 8,000-25,000 MT. President Trump is also threatening to implement the tariffs on the final $300 billion in Chinese exports to the US.

--provided by Brugler Marketing & Management

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.