Soybean futures are currently 4 cents higher. On Tuesday, they settled 7 1/2 to 10 1/2 cents lower. Sept soy meal was down $3.80/ton, with nearby bean oil 5 points higher. The NASS adjusted their 2017 US national soybean yield 0.5 bpa higher to 49.9 bpa. NASS increased production 50 mbu to a record 4.431 mbu with any harvested acreage change deferred until October. Old crop ending stocks were trimmed 25 million bushels on stronger exports and crush. New crop US ending stocks were unchanged from the August report at 475 mbu. A 25 mbu increase in exports and lower beginning stocks offset larger production. The 17/18 cash average process was lowered a dime to $9.20.World ending stock for 17/18 shifted down just 0.25 MMT to 97.53 MMT.

Market Commentary provided by:

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

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

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.