Soybeans Lower on Wednesday

Soybean futures closed with red on the board as futures were down 2 to 2 1/4 cents. Soy meal futures were down by $1.20/ton in the March futures. March bean oil futures were 27 points higher. Malaysian palm oil was up 87 ringgits, yesterday there was reporting of Indian ports full 30,000 MT of unloaded palm oil, as customs were blocking the freight that had been purchased prior to the import curb. MPOA reported that the Jan 1-20 palm oil production was down 17%. Argentina’s Vicentin SAIC halted soybean crushing last month and is still re-organizing. EPA reported the D4 RIN production in 2019 totaled 4.13 billion gallons, with 2.57 billion generated by domestic producers.

Mar 20 Soybeans closed at $9.13 3/4, down 2 1/4 cents,

May 20 Soybeans closed at $9.27 1/2, down 2 1/4 cents,

Jul 20 Soybeans closed at $9.41 1/4, down 2 1/4 cents,

Aug 20 Soybeans closed at $9.46, down 2 cents,

Mar 20 Soybean Meal closed at $297.90, down $1.20

Mar 20 Soybean Oil closed at $33.02, up $0.27

--- provided by Brugler Marketing & Management

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