Soybeans Market News and Commentary

Soybean futures found strength after midday with most contracts closing 11 to 13 1/4 cents higher. Soymeal futures were up $2.10/ton, with soy oil 54 points higher. Support came from rumors that US Treasury Sec Mnuchin is contemplating lifting some or all of the tariffs on Chinese imports ahead of next week’s meeting. At this point those are just rumors and were denied by Treasury. 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. The Buenos Aires Grain Exchange estimates that 38.9% of the Argentine soybean crop is blooming (avg 45.7%) as they cut planted acreage by 494,000 acres to 43.74 million acres. They also rated the crop at 51.2% gd/ex, compared to last year’s conditions of 35% for this week.

Mar 19 Soybeans closed at $9.07 3/4, up 13 1/4 cents,

May 19 Soybeans closed at $9.21, up 13 cents,

Jul 19 Soybeans closed at $9.34, up 13 1/4 cents,

Sep 19 Soybeans closed at $9.41, up 11 1/2 cents,

Mar 19 Soybean Meal closed at $312.20, up $2.10,

Mar 19 Soybean Oil closed at $28.77, up $0.54

--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.