AgriCharts Market Commentary

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Soybean Market Boosted by Rate Cut Talk

Soybean futures are trading 7 to 8 cents higher this morning. Fed officials continued to make dovish hints of an interest rate cut at the end of the month. They ended the Thursday session with the nearby contracts 1 to 2 cents lower. August soybean meal was down 50 cents/ton, with soy oil 4 points lower. Old crop soybean sales totaled 127,890 MT during the week of July 11. That was a 10-week low and 34.1% below last year. New crop bookings were 198,367 MT, up 53.2% wk/wk but down 67.7% yr/yr. Old crop export commitments are now 105% of USDA’s projected total vs. the 103% average. Exports are 85% of that number, with the normal pace at 83%.

--provided by Brugler Marketing & Management

Soybeans Slightly Lower on Thursday

Soybean futures ended the Thursday session with the nearby contracts 1 to 2 cents lower. August soybean meal was down 50 cents/ton, with soy oil 4 points lower. Old crop soybean sales totaled 127,890 MT during the week of July 11. That was a 10-week low and 34.1% below last year. Indonesia was the lead buyer of 123,500 MT, with net reductions of 171,100 MT for unknown destinations. New crop bookings were shown at 198,367 MT, up 53.2% wk/wk but down 67.7% yr/yr. Old crop export commitments are now 105% of USDA’s projected total vs. the 103% average. Exports are 85% of that number, with the normal pace at 83%. Soybean Meal were reported at 214,787 MT with the bulk for 19/20, as total soy oil sales were at 13,728 MT.

AUG 19 Soybeans closed at $8.81 1/4, down 1 1/4 cents,

SEP 19 Soybeans closed at $8.87, down 1 1/4 cents,

NOV 19 Soybeans closed at $8.99, down 1 1/2 cents,

JAN 20 Soybeans closed at $9.11 1/2, down 1 1/4 cents,

AUG 19 Soybean Meal closed at $307.00, down $0.50,

AUG 19 Soybean Oil closed at $27.64, down $0.04

--provided by Brugler Marketing & Management

Soybeans Near UNCH at Midday

Soybean futures are 6-7 cents off their lows at midday, with most contracts fractionally lower. August soybean meal is down 20 cents/ton, with soy oil 4 points lower. Old crop soybean sales totaled 127,890 MT during the week of July 11. That was a 10-week low and 34.1% below last year. Indonesia was the lead buyer of 123,500 MT, with net reductions of 171,100 MT for unknown destinations. New crop bookings were shown at 198,367 MT, up 53.2% wk/wk but down 67.7% yr/yr. Soybean Meal were reported at 214,787 MT with the bulk for 19/20, as total soy oil sales were at 13,728 MT.

AUG 19 Soybeans are at $8.82, down 1/2 cent,

SEP 19 Soybeans are at $8.87 3/4, down 1/2 cent,

NOV 19 Soybeans are at $8.99 1/2, down 1 cent,

JAN 20 Soybeans are at $9.12, down 3/4 cent,

AUG 19 Soybean Meal is at $307.30, down $0.20,

AUG 19 Soybean Oil is at $27.64, down $0.04

--provided by Brugler Marketing & Management

Soybean Market 3 to 4 Cents Lower Ahead of Export Sales

Soybean futures are currently 3 to 4 cents lower. Beans saw 5 to 6 cent losses in the front months on Wednesday. The 6-10 and 8-14 day forecasts call for some cooler and drier weather on the way. August soybean meal was down 90 cents/ton, with soy oil 31 points lower on Wednesday. USDA is expected to show 0-400,000 MT of old crop soybean bookings in the week that ended on July 11, with surveyed traders showing a range of 100,000-300,000 MT for new crop. Soybean Meal sales are estimated to be somewhere between 50,000-300,000 MT, with total soy oil sales at 5,000-50,000 MT. --provided by Brugler Marketing & Management

Soybean Market Sees 5 to 6 cents Losses

Soybean futures saw 5 to 6 cent losses in the front months on Wednesday. The 6-10 and 8-14 day outlooks shows forecasts of cooler and drier weather on the way. August soybean meal was down 90 cents/ton, with soy oil 31 points lower. USDA is expected to show 0-400,000 MT of old crop soybean bookings in the week that ended on July 11, with surveyed traders showing a range of 100,000-300,000 MT seen for new crop. Soybean Meal sales are estimated to be somewhere between 50,000-300,000 MT, with total soy oil sales at 5,000-50,000 MT.

AUG 19 Soybeans closed at $8.82 1/2, down 5 1/4 cents,

SEP 19 Soybeans closed at $8.88 1/4, down 5 1/2 cents,

NOV 19 Soybeans closed at $9.00 1/2, down 5 1/2 cents,

JAN 20 Soybeans closed at $9.12 3/4, down 6 cents,

AUG 19 Soybean Meal closed at $307.50, down $0.90,

AUG 19 Soybean Oil closed at $27.68, down $0.31

--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