Soybeans Climbing on Friday

Soybeans are stronger at midday, at 8 1/2 to 8 ¾ higher. Net new selling was again noted on Thursday, with preliminary open interest up 4,383 contracts. September soybean meal is up $3.10/ton, with soy oil 6 points lower. This morning to the U.S. Department of Agriculture said private exporters reported export sales of 296,500 metric tons of soybeans for delivery to unknown destinations during the 2019/2020 marketing year. Weekly new Crop sales on Thursday showed strong increases to 817,359 MT, 1.5 times larger than last week and 43% above the same week last year. There was a significant hike in “unknown destinations” which may be related to the old crop Chinese change. Basis is sloppy, from -.80 to -1.09 across Iowa, with basis weaker farther West and stronger to the East.

SEP 19 Soybeans are at $8.66 1/2, up 8 1/2 cents,

NOV 19 Soybeans are at $8.79 1/4, up 8 1/2 cents,

JAN 19 Soybeans are at $8.93, up 8 3/4 cents,

MAR 20 Soybeans are at $9.05 1/2, up 8 1/2 cents,

SEP 19 Soybean Meal is at $294.90, up $3.10,

SEP 19 Soybean Oil is at $29.13, up $0.06

-- 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
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

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.