Soybean Meal Dec '19 (ZMZ19)Get Real-Time Futures
Soybean Meal Futures Market News and Commentary
Soybean futures saw 10 to 11 1/2 cent losses in the front months on Monday. August soybean meal was down $3.20/ton, with soy oil 3 points lower. This morning’s USDA Export Inspections report showed soybean exports of 854,373 MT for the week ending on July 11. That was a 12.17% jump from the previous week and 34% above the same week last year. Of that total 460,302 MT was headed to China. The monthly NOPA report indicated its members had crushed just 148.843 mbu of soybeans during June, well below analysts’ estimates. That was down 3.85% from May and a 6.53% drop from last June. Soy oil stocks came in just above the average trade estimate at 1.535 billion lb. The weekly USDA Crop Progress report indicated 95% of the crop emerged, with 22% in the blooming stage (49% average). Crop conditions ended up seeing a 1% improvement to 54% gd/ex, with the Brugler500 up 2 points to 347. That’s 20 points higher than the same week in 1993. AUG 19 Soybeans closed at $9.01 3/4, down 11 1/2 cents, SEP 19 Soybeans closed at $9.07 3/4, down 11 1/4 cents, NOV 19 Soybeans closed at $9.20, down 11 1/2 cents, JAN 20 Soybeans closed at $9.32 1/4, down 10 3/4 cents, AUG 19 Soybean Meal closed at $311.60, down $3.20, AUG 19 Soybean Oil closed at $28.28, down $0.03 --provided by Brugler Marketing & Management
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