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Soybeans Market Commentary

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Soybean futures are currently 2 to 3 cents higher after closing with 5 to 7 cent losses in most contracts on Thursday. Soymeal was down $4.40/ton, with soy oil 19 points lower. FAS showed that 693,453 MT of 18/19 soybeans were sold for export in the week that ended on September 6. There was also 2.430 MMT carried over from leftover 17/18 sales. There was a total of 1.138 MMT of soybean shipments during the week that was over last Thursday, with 242,484 for 17/18 and the rest for new crop. There was a total of 132,995 MT shipped to China in that week. Soymeal export sales in that week totaled 233,194 MT, with soy oil at 5,176 MT.

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