Soybean Market News and Commentary

Soybean futures are mostly 3 to 3 3/4 cents higher at midday. Nearby meal futures are up $1/ton, with soy oil 3 points lower. USDA flashed a sale of 133,759 MT of soybeans for 18/19 delivery to unknown destinations this morning. The US cash average price range was narrowed by 50 cents to $8.35-8.85 on Tuesday, with USDA leaving the mid-point at $8.60. USDA did revise 17/18 Brazil production to 122 MMT on Tuesday, up 1.2 from the March report. AgRural now estimates the Brazilian soybean crop at 114.6 MMT, up 1.7 from their previous number, with updated CONAB estimates released on Thursday.

May 19 Soybeans are at $9.02, up 3 1/4 cents,

Jul 19 Soybeans are at $9.15 1/2, up 3 3/4 cents,

Aug 19 Soybeans are at $9.21, up 3 1/2 cents,

Sep 19 Soybeans are at $9.25 1/2, up 3 1/4 cents,

May 19 Soybean Meal is at $310.10, up $1.00

May 19 Soybean Oil is at $29.01, down $0.03

--provided by Brugler Marketing & Management

Market Commentary provided by:

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