Soybeans Market Commentary

Soybean futures are down 12 to 13 cents per bushel at midday. Nearby soy meal is down $3.10/ton and soy oil is off 36 points. NASS showed soybean harvest now lagging the average pace of 36% at 32% complete through Sunday. As elevator supplies are large, the lag is not seen as significant. Most of the progress was made in the ECB, as IA, MN, and the Dakotas are now lagging their average pace. Condition ratings were steady at 68% gd/ex and 374 on the Brugler500 Index. State by state ratings show IA dropping 11 points and NE down 5, with IL up 8 and MN 1 point higher. Analysts expect 18/19 world soybean stocks to be reported at 109.9 MMT by the USDA on Thursday, 1.64 MMT larger than the September total. An auction of Chinese state reserves saw 101,057 MT of soybeans sold on Wednesday, accounting for 100% of what was offered.

--provided by Brugler Marketing & Management (402) 289-2330

Nov 18 Soybeans are at $8.49 1/2, down 13 1/2 cents,

Jan 19 Soybeans are at $8.63 1/2, down 13 1/4 cents,

Mar 19 Soybeans are at $8.76 1/4, down 13 cents,

May 19 Soybeans are at $8.89 3/4, down 12 3/4 cents,

Oct 18 Soybean Meal is at $310.40, down $3.10

Oct 18 Soybean Oil is at $28.97, down $0.36

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.