Soybean futures settled the Friday session mostly 2 cents higher, following Thursday’s losses. December meal was up $2.70/ton, with nearby bean oil down 33 points. The USDA raised the average farm price range for soybeans 10 cents to $8.45 - $10.15, with the midpoint @ $9.30. Soybean export commitments so far this year are now lagging last year by 12.9%, losing ground since last week on fewer sales and shipments. AgRural estimates that 57% of the Brazilian soybean crop has been planted, picking up steam vs. the average of 56% but still slower than last year. Abiove expects Brazilian crushers to produce 31% more biodiesel in 2018 to meet an increased blend requirement there. They also estimate that only 1.5 MMT of soybeans of additional soybeans will be used to get to get that 31% increase in biodiesel. In Argentina, BAGE projects that 12% of the crop is planted, progressing over last week’s 7.2%.

Nov 17 Soybeans closed at $9.77 1/4, up 2 cents,

Jan 18 Soybeans closed at $9.87, up 2 cents,

Mar 18 Soybeans closed at $9.98, up 2 cents,

Jul 18 Soybeans closed at $10.15 1/2, up 2 cents,

Dec 17 Soybean Meal closed at $314.50, up $2.70,

Dec 17 Soybean Oil closed at $34.81, down $0.33

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.