Soybeans still Lower
BRUG - Wed Nov 27, 12:03PM CST

Soybean futures are lower by as much as 2 cents for the nearbys. Soybean meal was $0.20/ton lower at midday, and bean oil has gained 7 points so far. The Brazilian Real touched an all-time low against the dollar yesterday at .2364 dollars to Real. The weak currency has helped push their FOB prices down to $365.90/tonne. On the other side, soybean prices in Real hit a five year high for Brazilian farmers. USDA is using 76 MMT for their full year export figure (September to August). Chinese veg oil imports in October were a record 1.3 MMT. Bean imports are down because they don’t need as much meal, but they still need the oil for cooking. YTD veg oil imports (Jan-Oct) are up 2.9 MMT from last year.

JAN 19 Soybeans are at $8.83, down 1 1/4 cents,

MAR 19 Soybeans are at $8.97, down 1 3/4 cents,

MAY 20 Soybeans are at $9.11 1/2, down 1 3/4 cents,

JUL 20 Soybeans are at $9.24, down 2 cents,

DEC 19 Soybean Meal is at $294.50, down $0.20,

DEC 19 Soybean Oil is at $30.29, up $0.07

-- provided by Brugler Marketing & Management




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