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Soybean Oil May '18 (ZLK18)

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Brugler report

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Tue May 22, 4:35PM CDT
Soybean futures ended the day with most contracts 5 to 6 cents in the green. Soymeal was down $1.60/ton, with front month soy oil 9 points higher. The 5-day QPF is showing dryness expected for much of the central part of the Corn Belt. Parts of SW Minnesota and Northern IA are seen as wet over the next few days. The Northern part of the US (MI, MN, WI and the Dakotas) is the only area to show planting progress lagging for the most part. A trucker strike in Brazil is slowing the transport of soybeans to export terminals. A strike against Cargill in Argentina was halted by a government back to work order. Soaring inflation there and the sliding peso value are aggravating labor issues.Jul 18 Soybeans closed at $10.30 1/2, up 5 1/4 cents,Aug 18 Soybeans closed at $10.34 1/4, up 5 1/4 cents,Sep 18 Soybeans closed at $10.35 1/2, up 5 1/4 cents,Jan 19 Soybeans closed at $10.42 1/2, up 5 1/2 cents,Jul 18 Soybean Meal closed at $377.50, down $1.60,Jul 18 Soybean Oil closed at $31.51, up $0.09
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