Soybean futures ended the Wednesday trading session fractionally lower in the front months, with back months higher. Soy meal was up 30 cents in the front month, with July 17 soy oil steady. Old crop export bookings for the week of June 8 are projected to be 250,000-500,000 MT, as new crop is expected at 100,000-300,000 MT. Soy meal total export sales are estimated at 50,000-250,000 MT, with soy oil expected to range 5,000-35,000 MT in the weekly USDA report. The NOPA report will be released tomorrow at 11:00 a.m. CDT with crush ideas in the 143-144 million bushel range. Producer sales in Brazil have picked up over the past few days on a lower Real. China’s ag ministry has approved for import some additional varieties of GMO corn and soybeans.

Jul 17 Soybeans closed at $9.31 3/4, down 3/4 cent,

Aug 17 Soybeans closed at $9.35 1/4, down 1 cent,

Sep 17 Soybeans closed at $9.36 1/4, down 1/2 cent,

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

Jul 17 Soybean Meal closed at $301.80, up $0.30,

Jul 17 Soybean Oil closed at $32.09, unch,

Market Commentary provided by:

Brugler Marketing & Management LLC
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