AgriCharts Market Commentary

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Soybeans Close Lower on Trade Aid Rumor

Soybean futures closed Turnaround Tuesday with 9 to 9 3/4 cent losses, after being higher for most of the morning. July soy meal was down $2/ton, with soybean oil 36 points lower. A rumor this morning said President Trump is considering $2/bu trade aid for soybeans, though no other details or official announcements have been made. That would talk a lot of producers out of considering prevent plant claims and into late planted soybeans. After Monday’s close, the Crop Progress report indicated IA was 27% planted, with MN at 10% complete, SD only 4%, IL 9% and NE 40% in the ground.

Jul 19 Soybeans closed at $8.22, down 9 3/4 cents,

Aug 19 Soybeans closed at $8.28 3/4, down 9 3/4 cents,

Sep 19 Soybeans closed at $8.35 1/2, down 9 1/2 cents,

Jan 20 Soybeans closed at $8.60 1/4, down 9 1/2 cents,

Jul 19 Soybean Meal closed at $295.30, down $2.00,

Jul 19 Soybean Oil closed at $27.14, down $0.36

--provided by Brugler Marketing & Management

Boeing Delivers First 787-10 Dreamliners: LIVE MARKETS BLOG

Singapore Airlines was the first in line to receive the new jumbo jets.

Soybeans Higher on Monday, Helped by Short Covering

Soybean futures ended the Monday session with the front months 10 to 10 1/2 cents higher. Support came from the grain complex and specs taking profits after Friday’s sell off. July soy meal was up $3/ton, with soybean oil 28 points higher. After the close, the Crop Progress report indicated that just 19% of the soybean crop was planted on May 19, below most expectations. The 5-year average for week 20 is 47%, as last year was 53%. NASS also reported that 5% of the crop was emerged, compared to the normal pace at 17%. This morning’s Export Inspections report from USDA shows soybean shipments of 497,070 MT in the week that ended on May 16. That was a slight drop from the previous week and 45.21% below the same week last year. A total of 205,944 MT was shipped to China.

Jul 19 Soybeans closed at $8.31 3/4, up 10 cents,

Aug 19 Soybeans closed at $8.38 1/2, up 10 1/4 cents,

Sep 19 Soybeans closed at $8.45, up 10 1/4 cents,

Jan 20 Soybeans closed at $8.69 3/4, up 10 1/4 cents,

Jul 19 Soybean Meal closed at $297.30, up $3.00,

Jul 19 Soybean Oil closed at $27.50, up $0.28

--provided by Brugler Marketing & Management

Soybeans Following Grain Complex Higher, Helped by Short Covering

Soybean futures are trading 11 to 11 1/4 cents higher in the nearby contracts at midday. Support is coming from strength in the grain complex and specs covering their record large short position. July soy meal is up $3/ton, with soybean oil 35 points higher. This morning’s Export Inspections report from USDA shows soybean shipments of 497,070 MT in the week that ended on May 16. That was a slight drop from the previous week 45.21% below the same week last year. A total of 205,944 MT was shipped to China. Traders are expecting USDA to show 28 to 30% of the US soy crop planted as of May 19. That would still be behind the 44% average pace. Commitment of Traders data shows managed money spec funds adding 8,282 contracts to their record net short position of 168,835 contracts in the week ending May 14.

Jul 19 Soybeans are at $8.33, up 11 1/4 cents,

Aug 19 Soybeans are at $8.39 1/2, up 11 1/4 cents,

Sep 19 Soybeans are at $8.46, up 11 1/4 cents,

Nov 19 Soybeans are at $8.58 1/2, up 11 1/4 cents,

Jul 19 Soybean Meal is at $297.30, up $3.00

Jul 19 Soybean Oil is at $27.57, up $0.35

--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