Soybeans Market News and Commentary

Soybean futures ended the Wednesday session with most contracts 4 to 5 cents higher. Nearby soy meal was up $1.90/ton, with soy oil 9 points higher. USDA reported private export soybeans sales of 130,632 MT to Mexico and 110,000 MT to unknown destinations all for 18/19 delivery this morning. Earlier today, Reuters reported at least 500,000 MT of soybeans were purchased by Chinese state-owned companies on Wednesday. Traders are expecting 18/19 soybean export sales in the week of 12/6 totaled 0.7-1 MMT. Soybean meal sales are seen at a 225,000-450,000 range, with soy oil at 5,000-25,000 MT.

Jan 19 Soybeans closed at $9.20, up 5 cents,

Mar 19 Soybeans closed at $9.33 1/4, up 5 cents,

May 19 Soybeans closed at $9.45 3/4, up 4 3/4 cents,

Aug 19 Soybeans closed at $9.61 1/4, up 4 1/2 cents,

Dec 18 Soybean Meal closed at $310.80, up $1.90,

Dec 18 Soybean Oil closed at $28.80, up $0.09

--provided by Brugler Marketing & Management

Market Commentary provided by:

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