Soybeans

Soybean futures are currently UNCH to 1 cent per bushel lower. Meal futures are fractionally lower. Soy oil is getting a lift from higher palm oil trade in Malaysia and is up 12 points. Shrinkage in the dry pockets in South America is driving upward creep in soybean production estimates. The USDA weekly Export Inspections report this morning showed 1.139 MMT shipped in the week ending December 28. That was down 11% from the previous week and lagged the same week in 2016 by 28%. The Friday afternoon Commitment of Traders report showed the spec funds adding 28,319 contracts to their net short position in the week ending December 26. That put them net short 69,091 contracts of futures and options on Tuesday night. USDA’s Fats & Oils report today is expected to show November crush of about 174 million bushels, with trade ideas running 173.5-175.0 million.

Jan 18 Soybeans are at $9.51 1/4, down 1/2 cent,

Mar 18 Soybeans are at $9.60 3/4, down 1 cent,

May 18 Soybeans are at $9.72, down 1 cent,

Jul 18 Soybeans are at $9.82 1/2, down 1 cent,

Jan 18 Soybean Meal is at $312.40, down $0.20,

Jan 18 Soybean Oil is at $33.21, up $0.13




Market Commentary provided by:

Brugler Marketing & Management LLC
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Phone: 402-697-3623
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