Soybeans Rally 5 to 6 on Stronger Exports

Soybean futures settled 5 to 6 1/4 cents higher on Monday. Nearby soymeal was up $2/ton, with bean oil down 9 points. A total of 682,155 MT of US soybeans were exported in the week that ended 6/20. Those inspections were slightly higher than the week prior and 32.02% larger than the same week in 2018. Of that total, 529,638 MT (77.64%) were headed to China. Trade ideas for soybean planting progress were in the 86-89% range. USDA calculated 85% of intended acreage planted. The 5-year average is 97% for this date. The initial crop condition ratings showed 54% good or excellent, with the Brugler500 index (which weights all five condition categories) at 349. That was the lowest for this week since 2012.

Jul 19 Soybeans closed at $9.09, up 6 1/4 cents,

Aug 19 Soybeans closed at $9.14, up 5 1/2 cents,

Sep 19 Soybeans closed at $9.20 1/4, up 5 1/2 cents,

Nov 19 Soybeans closed at $9.32 1/2, up 5 cents,

Jul 19 Soybean Meal closed at $317.60, up $2.00,

Jul 19 Soybean Oil closed at $28.38, down $0.06

--provided by Brugler Marketing & Management

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.