Soybeans Market News and Commentary

Soybean futures are fractionally higher this morning. They closed Monday with most contracts 2 to 3 cents in positive territory. Deliveries against January soybean futures are still going strong in a game of ‘hot potato’. There were 1,152 contracts put out on Monday night. Soymeal was up $3.10/ton yesterday, with soy oil 4 points lower. Both Sinograin and COFCO are actively shopping for US soybeans. The private firms on the other hand are still hamstrung by the 25% tariff and are buying token amounts of South American product. Weekly USDA soybean export inspections totaled 673,172 MT. That was down 10.98% from the previous week and 44.58% below the same holiday week in 2018. The Netherlands led the way with 138,531 MT shipped. A load of 74,166 MT out of the Pacific was also headed to China. US and Chinese negotiators will conclude talks in Beijing today.

--provided by Brugler Marketing & Management




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