Soybean futures are currently 3 to 7 cents lower at midday on profit taking ahead of Thursday’s USDA report. Nearby Soymeal futures are down $3.20/ton, with front month soy oil down 30 cents. Analysts are expecting that the USDA will raise Brazilian production 1.9 to 113.9 MMT. That is estimated to be more than offset by a 5.5 MMT drop in Argentine production to 48.5 MMT. Some trade estimates are as high as 117 MMT for Brazil, however. World ending stocks for 17/18 are seen at 95.5 on that lower Argentine production, down 2.64 MMT from February. Export sales are projected to range 0.9 to 1.4 MMT in Thursday’s USDA report, with 100,000-300,000 MT for new crop.

Mar 18 Soybeans are at $10.58 1/2, down 6 cents,

May 18 Soybeans are at $10.68 1/2, down 6 1/4 cents,

Jul 18 Soybeans are at $10.77 1/4, down 5 3/4 cents,

Aug 18 Soybeans are at $10.76 3/4, down 4 1/4 cents,

Mar 18 Soybean Meal is at $381.30, down $3.20

Mar 18 Soybean Oil is at $32.00, down $0.30

Market Commentary provided by:

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

First you raise it, then you market it!  Check out the full Brugler advisory service with this special Harvest 2Fer offer at


Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.