Brugler Marketing and Management, LLC - BRUG - Wed Aug 08, 12:05PM CDT

Soybean futures are mostly 5 to 6 cents in the green on Wednesday. Nearby soy meal is up $3.50/ton, with soy oil down 5 points. The Chinese Dalian Exchange saw domestic soybean futures prices up 3.95% on Wednesday over fears of an eventual shortage of the soybean supply in the country. Trade estimates are ranging 100,000-400,000 MT for old crop soybean sales in the week of 8/2 and 300,000-600,000 MT for new crop ahead of Thursday’s Export Sales report. Soy meal is seen at 40,000-250,000 MT, with soy oil expected to range 8,000-34,000 MT. Traders in a Bloomberg survey are estimating that the Brazil production number will be 119.3 MMT (-0.2) on Friday, with Argentina at 36.7 MMMT (-0.3). Chinese soybean imports from all sources dipped to 8.01 MMT in July from 8.70 MMT in June and 10 MMT in July 2017.

Aug 18 Soybeans are at $8.95, up 5 3/4 cents,

Sep 18 Soybeans are at $9.00 3/4, up 5 1/2 cents,

Nov 18 Soybeans are at $9.11 1/4, up 5 1/2 cents,

Jan 19 Soybeans are at $9.22 3/4, up 5 3/4 cents,

Aug 18 Soybean Meal is at $336.20, up $3.50

Aug 18 Soybean Oil is at $28.54, down $0.05

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353

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