Soybeans Market News and Commentary

Soybean futures closed Tuesday with the nearby contracts 5 to 7 1/2 cents lower. Soymeal futures were down $2.10/ton, with soy oil 5 points higher to lead the product values. Reports that the US rejected a Chinese offer for preparatory talks this week ahead of next week’s meeting between the two countries dragged on the market. Economic advisor Larry Kudlow denied the cancellation of any meeting. The weekly Export Inspections report indicated 1.111 MMT of soybeans were exported during the week of January 17. That was 2.08% larger than last week but still 21.9% below the same week in 2018. Shipments to China picked up in that week, with a combined 416,408 MT in exports out of the Gulf and Pacific.

Mar 19 Soybeans closed at $9.09 1/4, down 7 1/2 cents,

May 19 Soybeans closed at $9.22 3/4, down 7 1/4 cents,

Jul 19 Soybeans closed at $9.35 3/4, down 6 3/4 cents,

Sep 19 Soybeans closed at $9.43 1/2, down 5 1/2 cents,

Mar 19 Soybean Meal closed at $313.00, down $2.10,

Mar 19 Soybean Oil closed at $29.06, up $0.05

--provided by Brugler Marketing & Management

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