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:

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