Soybeans

Soybean futures are mostly 15 to 17 1/4 cents in the red following this morning’s September WASDE report. Sept soy meal is down $5.80/ton, with nearby bean oil 18 points lower. A private export sale of 132,000 MT to Unknown Destinations for 17/18 was announced this morning through the USDA’s daily reporting system. The USDA adjusted their 2017 US national soybean yield up 0.5 bpa to 49.9 bpa. Consequently, NASS increased production 50 mbu to 4.431 mbu. Old crop ending stocks were trimmed 25 million bushels on strong exports. New crop US ending stocks were unchanged from the August report at 475 mbu. World ending stock for 17/18 shifted down just 0.25 MMT to 97.53 MMT. Soybean conditions fell 1% to 60 gd/ex, and the Brugler500 Index was down 2 points to 356.

Sep 17 Soybeans are at $9.37 1/2, down 17 1/4 cents,

Nov 17 Soybeans are at $9.44 3/4, down 15 1/4 cents,

Jan 18 Soybeans are at $9.55, down 15 cents,

Mar 18 Soybeans are at $9.63 3/4, down 14 3/4 cents,

Sep 17 Soybean Meal is at $293.10, down $5.80

Sep 17 Soybean Oil is at $34.61, down $0.18