Soybeans Higher on Spillover from the Grains

Soybean futures are up 8 to 8 1/2 cents in the front months at midday. July soy meal is $2.10/ton higher, with soybean oil 34 points in the green. Support is coming in the way of spillover from the grains. As of May 16, US soybean shipments were just 70% of the USDA full year projection, with the average at 88%. When adding in the unshipped sales, they are 95% of that projection, vs. the 98% pace for this time of year. There were rumors overnight that the White House was somehow going to change existing crop insurance contracts to enhance the payout for prevented planting.

Jul 19 Soybeans are at $8.30, up 8 1/2 cents,

Aug 19 Soybeans are at $8.36 3/4, up 8 1/2 cents,

Sep 19 Soybeans are at $8.43 1/2, up 8 1/4 cents,

Nov 19 Soybeans are at $8.56 1/4, up 8 cents,

Jul 19 Soybean Meal is at $299.30, up $2.10

Jul 19 Soybean Oil is at $27.12, up $0.34

--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
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

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.