Soybeans Market News and Commentary
BRUG - Tue Jan 08, 5:11PM CST

Soybean futures ended Turnaround Tuesday with the front months 5 to 6 cents lower on profit taking. Soymeal were down 60 cents/ton, with soy oil 8 points lower. Trade estimates for the January USDA reports (which are delayed due to the government shutdown and will NOT be released on Friday) are for Brazil’s soybean production estimate to be trimmed to 120.13 MMT, according to a Reuters survey. Brazil’s CONAB, however, will release their estimates as scheduled this Thursday. The US/China trade talks in Beijing are still on going and heading into a third day on Wednesday according to US trade officials. The application date for MFP payments will be pushed back from Jan 15 by the USDA due to the government shutdown.

Jan 19 Soybeans closed at $9.06 1/4, down 6 cents,

Mar 19 Soybeans closed at $9.18 1/2, down 5 3/4 cents,

May 19 Soybeans closed at $9.31 3/4, down 5 1/4 cents,

Aug 19 Soybeans closed at $9.48 1/4, down 5 cents,

Jan 19 Soybean Meal closed at $317.60, down $0.60,

Jan 19 Soybean Oil closed at $28.18, down $0.08

--provided by Brugler Marketing & Management




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