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




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