Soybeans Market Commentary

Soybean futures settled with losses of 2 to 3 cents in the front months to end the week that saw Nov up 2.02%. Soybean meal was down $5.50/ton on Friday, while soy oil was up 49 points. USDA reported a private export sale of 100,000 MT of soy meal to unknown for 18/19 delivery through their daily reporting system this morning. Weekly export sales data shows that soybeans export commitments (exports and unshipped sales) for 18/19 are down 7.2% from last year. Compared to the USDA export number, they are 32% complete, with last year running 34% at this time and the 5-year average at 42%. Spec traders in soybean futures and options added 1,544 contracts to their largest reported net short position since January 23 at 69,813 contracts. AgRural estimates that Brazil has 1.9% of their soybean area planted, vs. 0.3% for the 5-year average.

NOV 18 Soybeans closed at $8.47 1/4, down 3 cents,

JAN 19 Soybeans closed at $8.61 1/4, down 2 3/4 cents,

MAR 19 Soybeans closed at $8.74 1/4, down 2 3/4 cents,

MAY 19 Soybeans closed at $8.87 1/2, down 2 1/4 cents,

OCT 18 Soybean Meal closed at $305.90, down $5.50,

OCT 18 Soybean Oil closed at $28.09, up $0.49

Market Commentary provided by:

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Phone: 402-697-3623
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