Soybeans Market Commentary
BRUG - Fri Dec 07, 7:27AM CST

Soybean futures are fractionally mixed after ending Thursday with contracts down 3 to 4 cents. Jan was 1/2 cent from filling Monday’s gap. Nearby soy meal was down $1.90/ton, with soy oil 10 points lower. October exports of soybeans were reported at 5.58 million metric tonnes (205.04 mbu) by Census yesterday morning. That was 72.37% larger than September but down 42.15% from last year. They also reported soybean meal exports of 1.004 MMT for October, a record for that month. Soybean export sales in the week of 11/29 are seen at 600,000-900,000 MT. Soy meal is estimated at 175,000-400,000 MT, with bean oil at 8,000-26,000 MT. Stats Canada released production estimates on Thursday morning, with 2018/19 canola production 20.343 MMT, down 4.62% from last year. Canadian soybean production was estimated at 7.267 MMT, 5.84% lower than 2017.

--provided by Brugler Marketing & Management




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