Soybean futures settled with slight gains on Tuesday, as most contracts were 1/4 to 1 1/4 cents higher. Soy meal was down 30 cents in the front month, with July 17 soy oil 15 points higher. On Tuesday, Informa Economics updated their 2017 soybean planted acres estimate to 89.362 million acres, down slightly from May’s number of 89.7 million acres. Soybean condition ratings in most major growing areas were lower than last year, with parts of the ECB and Dakotas around 40 points worse than this time last year, using the Brugler 500 index. Analysts are expecting the NOPA report on Thursday to show May crush at 143.192 million bushels. That would be down 5.97% from last May but up 4.42% from April if realized. May 31 soy oil stocks are projected at 1.745 billion pounds, an increase from April and 12.49% lower than May 2016.

Jul 17 Soybeans closed at $9.32 1/2, up 1 1/4 cents,

Aug 17 Soybeans closed at $9.36 1/4, up 1 1/4 cents,

Sep 17 Soybeans closed at $9.36 3/4, up 1 1/4 cents,

Jan 18 Soybeans closed at $9.46 1/4, up 1/2 cent,

Jul 17 Soybean Meal closed at $301.50, down $0.30,

Jul 17 Soybean Oil closed at $32.09, up $0.15

Market Commentary provided by:

Brugler Marketing & Management LLC
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