Soybean Market News and Commentary

Soybean futures are holding near UNCH after seeing fractional to 1 cent losses in the front months on Monday. Nearby meal futures were up $1.20/ton, with soy oil 27 points lower. USDA reported soybean export inspections of 888,160 MT in the week of April 4. That was more than double the same time last year and 21.4% above the same week in 2018. A total of 385,303 MT was headed to China. A Reuters survey shows estimates for a slight increase to Argentina soybean production at 55.36 MMT, with Brazil seen at 116.19 MMT in the WASDE report. Analysts also expect on average that world carryout will be upped to 108.04 MMT, a bump of 0.87 MMT from the previous projection.

--provided by Brugler Marketing & Management

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