Soybean Market News and Commentary
BRUG - Mon Mar 11, 7:30AM CDT

Soybean futures are mostly 1 to 2 cents per bushel lower this morning. They posted losses of 6 to 7 cents in the front months on Friday, with May losing 1.73% for the week. Meal futures were down $2.90/ton in the nearby contract, with soy oil 2 points lower. The USDA reported a private export sale of 664,000 MT of soybeans to China for 18/19 delivery on Friday. Bulls will be disappointed if there are not additional sales reported today. China hiked projected full year soy imports to 85 MMT from 83.65 MMT, citing lower canola imports. USDA is at 88 MMT. The US S&D table had a 10 mbu lower US carryout for 2018/19 of 900 mbu, bumping up crush. World ending stocks were up 0.45 MMT to 107.17 MMT, with Chinese crush down 1 MMT. Brazilian production was trimmed by 0.5 MMT to 116.5 MMT with USDA leaving room for late season yield improvement.

--provided by Brugler Marketing & Management




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