Soybeans Higher Ahead of Thursday’s USDA Update
BRUG - Wed Jul 10, 12:18PM CDT

Soybean futures are up 8 to 9 cents in the front months at midday. Nearby July soybean meal us up 80 cents/ton, with soy oil 13 points lower. US 2019 soybean production is expected to be reduced in Thursday’s USDA balance sheet update, with estimates running 3.866 bbu from Bloomberg survey of analysts (-284 from June). The main reason for that would be the drop to acreage seen in the June 28 report, but yield on average is also seen a dropping 1 bpa to 48.5 bpa. Thursday’s Export Sales report is expected to show 200,000-400,000 MT of 18/19 soybean sales in the week ending on July 4, with 19/20 sales pegged at 50,000-350,000 MT. Meal bookings are expected in the range of 50,000-300,000 MT, with soy oil at 5,000-25,000 MT.

JUL 19 Soybeans are at $8.91 3/4, up 9 cents,

AUG 19 Soybeans are at $8.94, up 8 cents,

SEP 19 Soybeans are at $8.99 3/4, up 8 cents,

NOV 19 Soybeans are at $9.12 1/4, up 8 cents,

JUL 19 Soybean Meal is at $308.70, up $0.80,

JUL 19 Soybean Oil is at $27.75, down $0.13

--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.