Soybeans Double Digits Lower at Midday

Soybean futures are trading 11 to 13 cents lower the front months on Wednesday. August soybean meal is down $1.80/ton lower, with soy oil down 43 points. Trade talks concluded on Tuesday, with another round set for early September in DC. USDA reported a private export sale of 104,500 MT soybeans to unknown destinations, with 500 MT for 18/19 and the balance for 19/20. Thursday’s weekly Export Sales report is expected to show old crop bookings at net reductions of 50,000 MT to net sales of 250,000 MT. New crop is seen at 150,000-450,000 MT for the week of July 25. Meal sales are seen at 150,000-450,000 MT, with soy oil at 5,000-35,000 MT. Ahead of Thursday’s Fats & Oils report, analysts expect USDA to show June soybean crush at 159.4 mbu. Stocks are seen at 1.946 billion lbs.

AUG 19 Soybeans are at $8.67 1/4, down 11 1/2 cents,

SEP 19 Soybeans are at $8.71 1/4, down 13 cents,

NOV 19 Soybeans are at $8.84, down 12 3/4 cents,

JAN 20 Soybeans are at $8.97 3/4, down 12 1/4 cents,

AUG 19 Soybean Meal is at $298.50, down $1.80,

AUG 19 Soybean Oil is at $27.88, down $0.43

--provided by Brugler Marketing & Management

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.