Soybean Market News and Commentary
BRUG - Thu Apr 11, 5:20PM CDT

Soybean futures ended the Thursday session with the nearby contracts 6 to 7 cents lower. Front month meal futures were down $2.90/ton and May soy oil down 9 points. This morning’s Export Sales report showed a weak sales total of 270,376 MT in the week that ended on 4/4, well below estimates. That was well below last week’s total and more than 5 times smaller than the same week last year. The top buyer was Indonesia at 73,700 MT, with China showing a net reduction of 1,108 MT. Export commitments for 18/19 are now down 17.1% from the same time last year. Total new crop sales were shown at 9,980 MT. Soy meal sales were tallied at 152,143 MT, with soy oil at 33,834 MT. Brazil’s soybean production for 18/19 was estimated at 113.82 MMT by CONAB this morning, a revision of 366,000 MT higher than their previous number and still well below USDA and most of the private estimates.

May 19 Soybeans closed at $8.95 1/4, down 6 3/4 cents,

Jul 19 Soybeans closed at $9.08 3/4, down 6 1/2 cents,

Aug 19 Soybeans closed at $9.14 1/2, down 6 1/2 cents,

Nov 19 Soybeans closed at $9.28 1/4, down 6 1/4 cents,

May 19 Soybean Meal closed at $307.20, down $2.90,

May 19 Soybean Oil closed at $28.98, down $0.09

--provided by Brugler Marketing & Management

Market Commentary provided by:

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