Soybeans

Soybean futures ended the day with losses of 1 1/4 to 1 1/2 cents in the nearby contracts. July 17 soy meal was up 60 cents, with soy oil down 29 points higher in the front month. The Crop Progress report indicated that 96% of the soybean crop is planted, 3% ahead of the average, with 89% emerged, above the average of 84%. Crop conditions were rated at 67% g/e, up 1% from last week but down 6% from last year. The Brugler500 index is 368, even with last week, as very poor ratings also increased. Soybean export inspections for the week of June 15 were lowered 46.17% from last week and 12.66% from a year ago to 275,461 MT. Sources at the Soybean Export Council told Reuters that the Chinese buying team due in Iowa during July could commit to buying a record quantity of soybeans (>13.4 MMT).

Jul 17 Soybeans closed at $9.37 3/4, down 1 1/4 cents,

Aug 17 Soybeans closed at $9.41 3/4, down 1 1/2 cents,

Sep 17 Soybeans closed at $9.43 3/4, down 1 1/4 cents,

Jan 18 Soybeans closed at $9.55 1/2, down 1 1/2 cents,

Jul 17 Soybean Meal closed at $301.50, up $0.60,

Jul 17 Soybean Oil closed at $32.82, down $0.29




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

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