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Soybeans Market Commentary

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Soybean futures are mostly 3 to 3 1/2 cents lower in the nearby contracts. Front month soy meal is down $2.30/ton, with soy oil 31 points higher. USDA reported a total of 180,000 MT of net cancellations for 18/19 soybeans to China this morning, with an additional 120,000 MT of optional origin beans to unknown also cancelled. US Soybean export sales commitments are currently 21% smaller than last year. Typically, commitments would total 54% of the USDA export projection by this date, with only 37% reached so far this year. Argentina’s ag ministry expects that country’s planted soybean acreage to total 43.25 million acres, up ~750,000 from last year.

Nov 18 Soybeans are at $8.60 1/2, down 3 cents,

Jan 19 Soybeans are at $8.74 1/4, down 3 1/2 cents,

Mar 19 Soybeans are at $8.87 1/4, down 3 1/4 cents,

May 19 Soybeans are at $9.00 3/4, down 3 cents,

Dec 18 Soybean Meal is at $314.00, down $2.30

Dec 18 Soybean Oil is at $29.33, up $0.31

--Call Brugler Marketing & Management @ (402) 289-2330 with questions or news tips.

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