Soybean futures are trading with midday losses of 1 1/2 cents to 4 1/4 cents. The deferred contracts are down the most so far. Soymeal futures are trading $1.90 to $2.70 lower. Bean oil futures are in the green at midday, up 31 to 35 points. USDA announced a private export sale for 120,700 MT of beans to unknown destinations. USDA also announced a large export sale for 135,000 MT of soymeal to the Philippines. The weekly Export Inspections report showed 2.66 MMT of soybean shipments on the week ending 10/22. That was up 15% wk/wk, and 69% above the same week last year. of the week’s exports, 2.021 MMT alone went to China. Accumulated bean shipments are still on record pace with 526.856 mbu shipped through 10/22. Trade ideas for US soybean harvest progress are in the 87-90% range. NASS will put out their number this afternoon.
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Nov 20 Soybeans are at $10.82 1/4, down 1 1/2 cents, |
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Jan 21 Soybeans are at $10.78 3/4, down 2 1/4 cents, |
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Mar 21 Soybeans are at $10.65, down 2 1/2 cents, |
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May 21 Soybeans are at $10.58 1/4, down 3 1/4 cents, |
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Dec 20 Soybean Meal is at $383.30, down $3.10 |
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Dec 20 Soybean Oil is at $34.42, up $0.31 |
--- provided by Brugler Marketing & Management
