Soybean Futures Falling on Monday

Bean futures start off Monday’s round of trading lower, with nearby contracts losing as much as 6 1/2 cents at midday. Soybean meal is down by $5.50/ton so far, with Soybean oil gaining 30 points. USDA’s updated weekly export inspections showed that soybeans exports are still ahead of last year’s pace. Export inspections for the week ending 11/14 were 1.532 MMT (56.29 mbu), compared to last year’s 1.110 MMT for the same week. China was the main destination on the week with the PRC receiving 942,299 MT (61.15%). The accumulated soybean exports as of 11/14 were updated to 12.436 MMT (456.945 mbu), 12.14% ahead of last year’s pace. Brazilian bean planting has been updated by AgRural to be 67% complete as compared to the 70% average rate, this time last year the country was 82% planted. Trade ideas for US harvest progress are running 91-92%, with 95% being average for this date.

JAN 19 Soybeans are at $9.11 3/4, down 6 1/2 cents,

MAR 19 Soybeans are at $9.24 3/4, down 6 cents,

MAY 20 Soybeans are at $9.36 3/4, down 5 1/2 cents,

JUL 20 Soybeans are at $9.47 1/4, down 5 1/4 cents,

DEC 19 Soybean Meal is at $301.60, down $5.50,

DEC 19 Soybean Oil is at $30.73, up $0.30

--- provided by Brugler Marketing & Management

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