Soybean Market News and Commentary

Soybeans were up again on Friday with the nearby futures gaining 4 3/4 to 5 1/4 cents. That was enough to push futures to a weekly gain of 12 3/4 cents. Soybean meal futures were $2.10/ton lower on Friday but still ended the week with a $6.20/ton gain. Soy oil futures are up 72 points, and 64 points higher wk/wk. WASDE estimates for U.S. soybean carryout range from 392 to 522 mbu with the average of those polled shown at 474 mbu. The Nov. WASDE had USDA forecasts for ending stocks at 475 mbu. Stats Canada reported Canadian canola production at 18.649 MMT, down 8.3% from last year. The CFTC report from this afternoon showed managed money was net short beans, for the second week in a row. . Meal spec traders were shown at 43,910 contracts net short, which was the 3rd consecutive week expanding their position further short. As for bean oil, managed money was still net long, which brings their streak to 12 weeks of holding a long position on net.

JAN 19 Soybeans closed at $8.89 1/2, up 5 1/4 cents,

MAR 19 Soybeans closed at $9.03 3/4, up 5 cents,

MAY 20 Soybeans closed at $9.18 1/4, up 4 3/4 cents,

JUL 20 Soybeans closed at $9.31 1/2, up 4 3/4 cents,

DEC 19 Soybean Meal closed at $297.40, down $2.10,

DEC 19 Soybean Oil closed at $31.01, up $0.72

--- 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.