Soybeans

Soybean futures firmed later in the day and settled 2 to 6 cents higher. Meal futures were up 90 cents/ton. Soy oil got a lift from higher palm oil trade in Malaysia and closed 30 points higher. 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%. USDA’s Fats & Oils report was expected to show November crush of about 174 million bushels. The trade guess was very close, with the actual number at 173.33 million bushels. Soy oil stocks were 1.379 billion pounds.

Jan 18 Soybeans closed at $9.55, up 3 1/4 cents,

Mar 18 Soybeans closed at $9.64 3/4, up 3 cents,

May 18 Soybeans closed at $9.75 3/4, up 2 3/4 cents,

Jul 18 Soybeans closed at $9.86, up 2 3/4 cents,

Jan 18 Soybean Meal closed at $313.50, up $0.90,

Jan 18 Soybean Oil closed at $33.38, up $0.30




Market Commentary provided by:

Brugler Marketing & Management LLC
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