Brugler Marketing and Management, LLC - BRUG - Thu Aug 09, 4:55PM CDT

Soybean futures settled with 6 to 7 cent losses on the day, as traders were getting ready for Friday. Nearby soy meal was down $3.10/ton, with soy oil 3 points lower. Old crop soybean export sales totaled 421,841 MT in the week that ended on August 2, as new crop sales were at 532,540 MT. Soybean exports were well above the normal pace for this time of the year at 1.016 MMT. Soy meal sales totaled 129,512 MT, with soy oil at 10,903 MT. The average trade estimate for Friday’s WASDE report has old crop world ending stocks at 95.9 MMT, while new crop carryout is seen at 99.5 MMT. CONAB’s monthly crop report bumped their Brazilian soybean production estimate up 0.13 to 118.99 MMT, matching USDA’s July number.

Aug 18 Soybeans closed at $8.87 3/4, down 6 cents,

Sep 18 Soybeans closed at $8.93, down 6 3/4 cents,

Nov 18 Soybeans closed at $9.04, down 6 1/2 cents,

Mar 19 Soybeans closed at $9.25, down 6 1/4 cents,

Aug 18 Soybean Meal closed at $334.00, down $3.10,

Aug 18 Soybean Oil closed at $28.42, down $0.03

Market Commentary provided by:

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

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.