Soybeans Decline on Monday

Soybeans futures ended Monday’s trade session 12 3/4 to 13 1/4 cents lower. Meal futures were down $2.90/ton and soy oil 45 points lower. The US soybeans crop progress data shows 90% of the crop blooming (96% avg), with 68% setting pods (85% avg). Condition ratings were down 1% to a 54% g/ex rating, with a Brugler500 index rating 2 points lower at 344. This morning’s Export Inspections report indicated that 1.16 MMT of soybeans were shipped in the week that ended on August 15. That was a 22% higher than the week prior and a 75% increase over the same week in 2018. A total of 551,235 MT was headed to China. Results from day one the ProFarmer Midwest Crop Tour will be out later tonight. Many of the fields were still blooming, resulting in incomplete pod counts.

SEP 19 Soybeans closed at $8.54, down 13 1/4 cents,

NOV 19 Soybeans closed at $8.66 1/2, down 13 1/4 cents,

JAN 19 Soybeans closed at $8.80 1/2, down 13 cents,

MAR 20 Soybeans closed at $8.93 3/4, down 12 3/4 cents,

SEP 19 Soybean Meal closed at $292.00, down $2.90,

SEP 19 Soybean Oil closed at $28.68, down $0.45

--- provided by Brugler Marketing & Management

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