Soybeans Close Higher on Wednesday

Soybeans futures settled the Wednesday session 4 3/4 to 5 cents higher in the nearby contracts. Meal futures were up $.70/ton and soy oil 31 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. The ProFarmer Midwest Crop Tour was in Illinois today and individual car reports showed 12-46 % reduction in pod counts from last year.

SEP 19 Soybeans closed at $8.60 1/2, up 4 3/4 cents,

NOV 19 Soybeans closed at $8.73, up 4 3/4 cents,

JAN 19 Soybeans closed at $8.86 3/4, up 4 3/4 cents,

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

SEP 19 Soybean Meal closed at $294.70, up $0.70,

SEP 19 Soybean Oil closed at $28.74, up $0.31

-- provided by Brugler Marketing & Management




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