Soybeans futures continue to leak lower, down 3 to 3 1/4 cents in the nearby contracts. Soybean meal is down $2.10/ton, with Bean oil 28 points higher. Export commitments of soybeans are now 4.8% above last year, even as unshipped sales down 3%. Accumulated exports are up 14% at 26% of the USDA projection. Combined, shipped and unshipped sales are 49% of that projection, with the normal pace at 63%. The Weekly Ag Report from the Buenos Aires Grain Exchange stated Argentinean bean planting had reached 31.1% completion as of 11/21. ARC Mercosul estimates that the Brazilian soybean crop is 77.3% planted, vs. the average of 80.5% and 89.6% last year.
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JAN 19 Soybeans are at $8.98, down 3 cents, |
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MAR 19 Soybeans are at $9.12, down 3 1/4 cents, |
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MAY 20 Soybeans are at $9.25 1/4, down 3 1/4 cents, |
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JUL 20 Soybeans are at $9.37 1/4, down 3 cents, |
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DEC 19 Soybean Meal is at $298.90, down $2.10, |
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DEC 19 Soybean Oil is at $30.97, up $0.28 |
-- provided by Brugler Marketing & Management
