Soybeans Market Commentary

Soybean futures gave back some of Monday’s gains on Turnaround Tuesday, down 6 to 7 cents. Nearby soy meal was down $4.70/ton, with soy oil 10 points lower. Forecasts for the next week are dry for most of the Corn Belt, helping to get things dried out and allowing harvest to progress. NASS reported harvest as of Sunday was well behind normal with WCB states making very little progress over the past week. Progress in IA and MN is lagging by 31% with NE down 16% and the Dakotas well below normal, while IL is 5% faster than normal and IN up 2%. Condition ratings saw significant declines in IA (-10%), MO (-11%), ND (10%), and OH (-9%), with NE down 5% and MN 3 points lower.

Nov 18 Soybeans closed at $8.84 3/4, down 6 3/4 cents,

Jan 19 Soybeans closed at $8.99 1/4, down 6 1/2 cents,

Mar 19 Soybeans closed at $9.11 1/2, down 6 1/2 cents,

Jul 19 Soybeans closed at $9.34 3/4, down 6 3/4 cents,

Dec 18 Soybean Meal closed at $322.30, down $4.70,

Dec 18 Soybean Oil closed at $29.66, down $0.10

--provided by Brugler Marketing & Management (402) 289-2330

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353

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