Soybeans

Soybean futures are currently 4 cents higher. On Tuesday, they settled 7 1/2 to 10 1/2 cents lower. Sept soy meal was down $3.80/ton, with nearby bean oil 5 points higher. The NASS adjusted their 2017 US national soybean yield 0.5 bpa higher to 49.9 bpa. NASS increased production 50 mbu to a record 4.431 mbu with any harvested acreage change deferred until October. Old crop ending stocks were trimmed 25 million bushels on stronger exports and crush. New crop US ending stocks were unchanged from the August report at 475 mbu. A 25 mbu increase in exports and lower beginning stocks offset larger production. The 17/18 cash average process was lowered a dime to $9.20.World ending stock for 17/18 shifted down just 0.25 MMT to 97.53 MMT.




Market Commentary provided by:

Brugler Marketing & Management LLC
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Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
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