Soybeans Market News and Commentary

Soybean futures are up 10 to 10 3/4 cents at midday. Soymeal futures are up $3.30/ton, with soy oil 28 points higher. On Wednesday afternoon, the national soybean cash index was at $8.03 per DTN data, down 96 1/2 cents yr/yr. Against the newly appointed front month March, that put basis at -91 1/2 cents, 23 cents weaker than a year ago. Imea estimates that Mato Grosso soy harvest is 5.6% completed. Parana is about 10% done vs. 5% last week and none in 2018. USDA is/was using 2017 as an analog year because of a similar planting pace.

Mar 19 Soybeans are at $9.05 1/4, up 10 3/4 cents,

May 19 Soybeans are at $9.18 1/2, up 10 1/2 cents,

Jul 19 Soybeans are at $9.31 1/4, up 10 1/2 cents,

Aug 19 Soybeans are at $9.36 1/4, up 10 1/4 cents,

Mar 19 Soybean Meal is at $313.40, up $3.30

Mar 19 Soybean Oil is at $28.51, up $0.28

--provided by Brugler Marketing & Management

Market Commentary provided by:

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