Soybean Meal Dec '19 (ZMZ19)
Soybean Meal Futures Market News and Commentary
Soybean futures are again remaining firmer than the grains, as some contracts only drop 1 1/4 cents at midday. Soybean meal was $2.00/ton higher at midday, while soybean oil is 46 points lower. The USDA reported a private export sale of 106,000 MT of soybeans overnight to unknown. CONAB updated the projected Brazilian output this morning; they revised up the soybean production for 19/20 to 120.86 MMT, that is 2.14 MMT below the Nov WASDE number. CONAB’s Soybean exports were UNCH at 72 MMT. The USDA Crop Progress Report on Tuesday afternoon reported that national soybean harvest was 85% complete. USDA’s weekly export inspections for soybeans was at 48.929 mbu for the week ending 11/07. The MYTD accumulated export inspections for soybeans are 7.01% above 18/19’s pace.
NOV 19 Soybeans are at $9.05 3/4, unch,
JAN 19 Soybeans are at $9.16, down 1 cent,
MAR 20 Soybeans are at $9.29, down 1 1/4 cents,
MAY 20 Soybeans are at $9.41 1/2, do... Read more
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