Soybeans 10 3/4 Cents Lower on Weakness in Product Value
BRUG - Tue Apr 16, 5:33PM CDT

Soybean futures ended the Tuesday session with most contracts 10 to 10 3/4 cents in negative territory. Product markets were lower as meal futures fell $4.50/ton and May soy oil was down 9 points. Advisor to the White House Larry Kudlow stated that we are making good progress with China, but lack of much visible progress (aka radio silence) is making traders weary. The known is the large US old crop carryover. USDA will begin reporting US soybean planting pace in next week’s Crop Progress report. The markets will be closed on Friday in observance of the Good Friday holiday.

May 19 Soybeans closed at $8.88, down 10 3/4 cents,

Jul 19 Soybeans closed at $9.01 3/4, down 10 3/4 cents,

Aug 19 Soybeans closed at $9.07 1/2, down 10 1/2 cents,

Nov 19 Soybeans closed at $9.21, down 10 cents,

May 19 Soybean Meal closed at $306.50, down $4.50,

May 19 Soybean Oil closed at $28.72, down $0.09

--provided by Brugler Marketing & Management

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