Soybean Market News and Commentary

Soybean futures are trading fractionally to 1 cent lower on Thursday. Meal futures are up $1.90/ton in the nearby contract, with soy oil down 9 points. March futures expire today. This morning’s Export Sales report showed 1.912 MMT of old crop soybean bookings in the week that ended on March 7. That was just above the top end of trade estimates and 50.6% larger than the same week in 2018. Most of that was known sales to China (1.708 MMT total), with Mexico the next largest buyer of 67,500 MT. Meal sales totaled 225,978MT, with soy oil at 13,986 MT. Both were in the mainstream of trade ideas.

Mar 19 Soybeans are at $8.89, up 4 1/4 cents,

May 19 Soybeans are at $9.00 1/4, down 3/4 cent,

Jul 19 Soybeans are at $9.14, down 3/4 cent,

Aug 19 Soybeans are at $9.20 1/4, down 3/4 cent,

Mar 19 Soybean Meal is at $300.20, up $1.90

Mar 19 Soybean Oil is at $29.69, down $0.09

--provided by Brugler Marketing & Management




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