Soybeans Up a Nickel at Midday

Soybeans futures are trading 5 to 5 1/2 cents higher in the nearby contracts at midday. Meal futures are up $1/ton and soy oil 34 points higher. The 8-14 day outlook shows chances for below normal temperatures as we head into September. Ahead of Thursday’s Export Sales report, analysts are expecting a net reduction of 200,000 up to net sales of 100,000 MT of old crop soybeans in the week of 8/15. New crop bookings are seen at 350,000-700,000 MT. Soy meal sales are seen at 100,000-350,000 MT, with soybean oil at 5,000-25,000 MT. Results from day two of the Midwest Crop Tour had pod counts in Nebraska down 7% from last year. The average count in Indiana was down 30%. Of the states being surveyed, IN had the lowest % of the crop setting pods (50%) as of Sunday. The tour is in Illinois and Iowa today, with the last leg wrapping up on Thursday.

SEP 19 Soybeans are at $8.60 3/4, up 5 cents,

NOV 19 Soybeans are at $8.73 1/4, up 5 cents,

JAN 19 Soybeans are at $8.87 1/2, up 5 1/2 cents,

MAR 20 Soybeans are at $9.00 1/2, up 5 1/4 cents,

SEP 19 Soybean Meal is at $295.00, up $1.00,

SEP 19 Soybean Oil is at $28.77, up $0.34

-- provided by Brugler Marketing & Management

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.