Soybeans Market Commentary

Soybean futures are currently 2 to 3 1/2 cents lower on Thursday. They are well off their lows after nearly filling Monday’s gap. Nearby soy meal is down $1.20/ton, with soy oil 16 points lower. October exports of soybeans were reported at 5.58 million metric tonnes (205.04 mbu) by Census this morning. That was 72.37% larger than September but down 42.15% from last year. They also reported soybean meal exports of 1.004 MMT for October, a record for that month. Stats Canada released production estimates this morning, with 18/19 canola production seen at 20.343 MMT, down 4.62% from last year. Canadian soybean production is estimated at 7.267 MMT, 5.84% lower than last year.

Jan 19 Soybeans are at $9.10 1/2, down 3 cents,

Mar 19 Soybeans are at $9.22 3/4, down 2 3/4 cents,

May 19 Soybeans are at $9.35 3/4, down 2 1/2 cents,

Jul 19 Soybeans are at $9.47 1/4, down 3 cents,

Dec 18 Soybean Meal is at $310.70, down $1.20

Dec 18 Soybean Oil is at $28.41, down $0.16

--provided by Brugler Marketing & Management

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