Soybeans Post Gains on Positive Export Sales

Soybeans futures closed the Thursday session with most contracts 2 to 4 1/4 cents higher. Soybean meal was up 60 cents/ton, with soy oil 6 points lower. Chinese trade negotiators were in DC on Thursday to lay groundwork for the higher-level talks in October. This morning’s Export Sales report showed 19/20 bookings of 1.728 MMT (63.48 million bushels) in the week that ended on 9/12, beating out the top end of estimates of 1.1 MMT. Of that total, China was nominated for 593,221 MT, with another 427,400 MT labeled unknown destinations. USDA indicated 435,800 MT for bean meal sales, with soy oil totaling 20,600 MT.

NOV 19 Soybeans closed at $8.93, up 4 1/4 cents,

JAN 19 Soybeans closed at $9.06, up 3 3/4 cents,

MAR 20 Soybeans closed at $9.18 1/4, up 3 cents,

MAY 20 Soybeans closed at $9.28 3/4, up 2 1/2 cents,

OCT 19 Soybean Meal closed at $292.20, up $0.60,

OCT 19 Soybean Oil closed at $29.81, down $0.06

-- 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.