Soy Market Lower at Mondays Close

Soybean futures were lower again on Monday, by 4 3/4 to 5 cents lower. Soybean meal futures were $0.50/ton lower, and soy oil futures closed 50 points lower on weakness in diesel prices. The weekly Export Inspections report from the USDA this morning showed soybean shipments for the week ending 01/23 were 1.039 MMT. That is down 167,300 MT from last week, but is 9.97% more than the same week last year. MYTD soybean shipments are 25.215 MMT, compared to last year at this time with 20.485 MMT. The top destination for the week’s shipments was China, with 46.82% of the total. Japan was the destination for 10.4%, and both Spain and Saudi Arabia imported 71k MT of American soybeans on the week. The Indonesian B40 initiative is expected to eventually cause an increase in biodiesel consumption of palm oil by up to 40%. EU soybean imports on the MY to Jan 26 were 7.9 MMT; which is down 4% yr/yr. Soybean meal imports for the economic zone were up 8% yr/yr to 10.6 MMT, and EU palm oil imports were 18% lower yr/yr.

Mar 20 Soybeans closed at $8.97 1/4, down 4 3/4 cents,

May 20 Soybeans closed at $9.11, down 4 3/4 cents,

Jul 20 Soybeans closed at $9.24 1/2, down 5 cents,

Aug 20 Soybeans closed at $9.29 1/4, down 5 cents,

Mar 20 Soybean Meal closed at $297.80, down $0.50

Mar 20 Soybean Oil closed at $31.52, down $0.50

--- provided by Brugler Marketing & Management

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.