Soybeans Market News and Commentary

Soybean futures are trading fractionally lower to start the week. They posted 8 to 9 cent gains in most nearby contracts on Friday, with March 0.71% higher for the week. Soymeal futures were up $2.90/ton, with soy oil 24 points higher. Several Trade War rumors helped to support the market later in the week. We regard these as trial balloons for the next negotiating round at the end of the month. AgRural estimates that the Brazilian soybean harvest is 6.1% complete, compared to the average at 1.2%. EU soybean imports since July 1 have totaled 7.8 MMT, up 11.8% year over year with a larger percentage originating in the United States. Meal imports have been down, however. US futures markets were closed on Monday, but Chinese futures were up 1.04% in the May Dalian contract, extending gains from Friday.

--provided by Brugler Marketing & Management

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