Soybean Market Mostly 3 Cents Lower

Soybean futures are 3 cents lower this morning after seeing losses of 1 to 2 cents in most contracts on Thursday. Soymeal was down $1.80/ton, with bean oil 54 points higher. Weather forecasts show a planting window for some, but too brief for others to get dried out. The weekly update to the Export Sales report indicated 510,024 MT of old crop soybeans sold in the final full week of May. Unknown destinations purchased 214,000 MT, with China at 72,300 MT in bookings. New crop sales totaled 73,740 MT. April US soybean exports according to Census were 2.399 MMT (88.16 mbu), which was the second largest April figure on record. Meal exports in April were a monthly record 1.27 MMT.

--provided by Brugler Marketing & Management




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