AgriCharts Market Commentary

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Soybeans

Soybean futures settled Monday with most contracts 9 1/4 to 13 cents in the red. Oct soy meal was down $4.90/ton, with nearby bean oil 21 points lower. The USDA indicated that US soybeans were 10% harvested as of Sunday, vs. the average of 12%. Soybean condition ratings were up 1% in gd/ex and 1 higher on the Brugler500 to 356. This morning’s Export Inspections report showed soybean exports of 1.03 MMT, 10.59% ahead of last week and more than 2.6 times larger than a year ago. Soybean shipments YTD are 33.39% above last year. China is expected to auction off 300,000 MT of soybeans from state reserves on Friday. This would be the first soybean auction in nearly a year. They want to rotate inventory just like the US used to do in the Reserve days.

Nov 17 Soybeans closed at $9.71 1/4, down 13 cents,

Jan 18 Soybeans closed at $9.81 3/4, down 12 3/4 cents,

Mar 18 Soybeans closed at $9.90 3/4, down 12 3/4 cents,

Jul 18 Soybeans closed at $10.06, down 11 3/4 cents,

Oct 17 Soybean Meal closed at $310.10, down $4.90,

Oct 17 Soybean Oil closed at $33.78, down $0.21

Soybeans

Soybean futures are trading 11 1/4 to 11 3/4 cents in the red at midday. Oct soy meal is down $4.60/ton, with nearby bean oil 16 points lower. This morning’s Export Inspections report showed soybean exports of 1.03 MMT, 10.59% ahead of last week and more than 2.6 times larger than a year ago. Soybean shipments YTD are 33.39% above last year. The USDA is expected to show US soybean harvest ~11% complete this afternoon. CFTC data showed money managers flipping their net position in soybean futures and options by 18,155 contracts. Their position on Tuesday was reported at net long 13,747 contracts. China is expected to auction off 300,000 MT of soybeans from state reserves on Friday. This would be the first soybean auction in nearly a year. They want to rotate inventory just like the US used to do in the Reserve days.

Nov 17 Soybeans are at $9.72 1/2, down 11 3/4 cents,

Jan 18 Soybeans are at $9.83, down 11 1/2 cents,

Mar 18 Soybeans are at $9.92 1/4, down 11 1/4 cents,

May 18 Soybeans are at $10.00 1/4, down 11 1/4 cents,

Oct 17 Soybean Meal is at $310.40, down $4.60

Oct 17 Soybean Oil is at $33.83, down $0.16

Soybeans

Soybean futures are trading mostly a nickel lower this morning. They closed the Friday session mostly 9 to 13 1/2 cents higher. The Nov contract was up for the fifth consecutive week. Oct soy meal was up $6/ton, with nearby bean oil down 11 points. The USDA announced another private export sale of 190,000 MT of soybeans to Mexico for 17/18 delivery through their daily reporting system. The total of all announcements for last week is 1.801 MMT for 17/18 and 120,000 MT for 18/19. CFTC data showed money managers flipping their net position in soybean futures and options by 18,155 contracts. Their position on Tuesday was reported at net long 13,747 contracts.

Soybeans

Soybean futures closed the Friday session mostly 9 to 13 1/2 cents higher, as Nov was up for the fifth consecutive week. Oct soy meal was up $6/ton, with nearby bean oil down 11 points. The USDA announced another private export sale of 190,000 MT of soybeans to Mexico for 17/18 delivery through their daily reporting system. The total of all announcements for this week is 1.801 MMT for 17/18 and 120,000 MT for 18/19. CFTC data showed money managers flipping their net position in soybean futures and options by 18,155 contracts. Their position on Tuesday was reported at net long 13,747 contracts.

Nov 17 Soybeans closed at $9.84 1/4, up 13 1/2 cents,

Jan 18 Soybeans closed at $9.94 1/2, up 13 1/2 cents,

Mar 18 Soybeans closed at $10.03 1/2, up 13 1/4 cents,

Jul 18 Soybeans closed at $10.17 3/4, up 12 3/4 cents,

Oct 17 Soybean Meal closed at $315.00, up $6.00,

Oct 17 Soybean Oil closed at $33.99, down $0.11

Soybeans

Soybean futures closed the Friday session mostly 9 to 13 1/2 cents higher, as Nov was up for the fifth consecutive week. Oct soy meal was up $6/ton, with nearby bean oil down 11 points. The USDA announced another private export sale of 190,000 MT of soybeans to Mexico for 17/18 delivery through their daily reporting system. The total of all announcements for this week is 1.801 MMT for 17/18 and 120,000 MT for 18/19. CFTC data showed money managers flipping their net position in soybean futures and options by 18,155 contracts. Their position on Tuesday was reported at net long 13,747 contracts.

Nov 17 Soybeans closed at $9.84 1/4, up 13 1/2 cents,

Jan 18 Soybeans closed at $9.94 1/2, up 13 1/2 cents,

Mar 18 Soybeans closed at $10.03 1/2, up 13 1/4 cents,

Jul 18 Soybeans closed at $10.17 3/4, up 12 3/4 cents,

Oct 17 Soybean Meal closed at $315.00, up $6.00,

Oct 17 Soybean Oil closed at $33.99, down $0.11


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