Soybean Futures Market News and Commentary
Soybean futures are fractionally lower so far this Tuesday, with Nov up a penny ahead of Thursday’s expiration. Soybean meal is $1.30/ton higher on Tuesday, with bean oil 39 points lower. There were 233 deliveries against November bean futures overnight, with 5 different stoppers. Soybean export inspections released this morning from the USDA, showed 48.929 mbu of soybeans for the week ending 11/07. That was just below the same week last year and 5.475 mbu less than last week. The MYTD accumulated export inspections for soybeans are 7.01% above 18/19’s pace, but are still 96.277 mbu below the pre trade war (5 year) average. Trade ideas for US harvest progress are in the 84-85% range for the weekly report.
NOV 19 Soybeans are at $9.06, up 1 cent,
JAN 19 Soybeans are at $9.16 3/4, down 1/4 cent,
MAR 20 Soybeans are at $9.29 3/4, down 3/4 cent,
MAY 20 Soybeans are at $9.42, down 3/4 cent,
DEC 19 Soybean Meal is at $301.90,... Read more