Soybeans Slightly Higher on Wednesday

Soybean futures closes a penny higher in several front months on Wednesday. August soybean meal was down $2.10/ton, with soy oil up 48 points. The USDA reported a private export sale of 165,000 MT of 19/20 soybeans to unknown destinations. The trade range of estimates for old crop soybean weekly export sales is 0-300,000 MT, with 100,000-600,000 MT seen for new crop. Soy meal sales are seen at 75,000-325,000 MT, with 5,000-30,000 MT anticipated for soy oil. A Reuters survey shows an average trade guess of 1.065 bbu for old crop soybean carryout ahead of next Monday’s WASDE report, a 15 mbu bump from July. New crop is seen at 821 mbu, which is 26 mbu larger than the July USDA projection.

AUG 19 Soybeans closed at $8.48 3/4, up 1 cent,

SEP 19 Soybeans closed at $8.54, up 1 cent,

NOV 19 Soybeans closed at $8.66 3/4, up 1 cent,

JAN 20 Soybeans closed at $8.80 1/4, up 1 cent,

AUG 19 Soybean Meal closed at $293.00, down $2.10,

AUG 19 Soybean Oil closed at $27.96, up $0.48

--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
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

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.