Soybean Market News and Commentary
BRUG - Tue Feb 05, 12:02PM CST

Soybean futures are trading fractionally to 1 1/4 cents lower at midday. Meal futures are down $1.50/ton, with soy oil up 10 points. Private export sales of 2.603 MMT of soybeans to China and 274,000 MT to unknown were reported by the USDA this morning. Ahead of Friday’s USDA reports, traders estimate Dec 1 soybean stocks at 3.743 bbu, which would be 582 mbu above last year. The Crop Production report is expected to show US soybean yield updated to 51.8 bpa, down 0.3 bpa from November. The Fats & Oils report indicated that 178.08 mbu of soybeans were crushed in November, exceeding expectations. Total soy oil stocks were seen at 1.9 bbu. Canadian canola stocks were tallied at 14.552 MMT on Dec 31 according to Stats Canada this morning, which is 4.9% larger than this time last year.

Mar 19 Soybeans are at $9.17 1/4, down 1 1/4 cents,

May 19 Soybeans are at $9.31 1/4, down 1 1/4 cents,

Jul 19 Soybeans are at $9.44 1/2, down 1/2 cent,

Aug 19 Soybeans are at $9.49 1/2, down 3/4 cent,

Mar 19 Soybean Meal is at $309.10, down $1.50,

Mar 19 Soybean Oil is at $30.23, up $0.10

--provided by Brugler Marketing & Management

Market Commentary provided by:

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