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Soybeans Pit Nov '17 (SX17)

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Brugler report

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Wed May 23, 4:55PM CDT
Soybean futures saw 8 to 9 1/2 cent gains in most contracts on Wednesday. Soymeal were up $3.20/ton, with front month soy oil 19 points higher. A report late on Wednesday showed that a Chinese importer purchased a cargo of US soybeans for shipment in August. The average trade guess for old crop soybean export sales is for net reductions of 200,000 to sales of 400,000 MT. That comes after the USDA earlier reported private exporters canceling a large chunk of old crop sales in the daily reporting system. New crop sales are seen at 200,000-400,000 MT. Soy meal sales are expected at 100,000-500,000 MT, with soy oil at 8,000-30,000 MT. Ports in Argentina will be shut down on Thursday due to a strike by workers demanding better conditions and wages.Jul 18 Soybeans closed at $10.39 1/4, up 8 3/4 cents,Aug 18 Soybeans closed at $10.43 1/4, up 9 cents,Sep 18 Soybeans closed at $10.45, up 9 1/2 cents,Jan 19 Soybeans closed at $10.52, up 9 1/2 cents,Jul 18 Soybean Meal closed at $380.70, up $3.20,Jul 18 Soybean Oil closed at $31.70, up $0.19
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