Soybeans Market Commentary
cmdty Insider - BRUG - Wed Oct 10, 7:29AM CDT

Soybean futures are currently 3 to 4 cents lower after seeing losses of 5 to 7 cents in the front months on Tuesday. Nearby soy meal was down 70 cents/ton, while soy oil was down 36 points. Export inspections of soybeans during the week of 10/4 were 569,776 MT. That was just 38.22% of the same week last year and down 9.6% from the previous week. NASS showed soybean harvest now lagging the average pace of 36% at 32% complete through Sunday. Condition ratings were steady at 68% gd/ex and 374 on the Brugler500 Index. Brazil’s Abiove expects the 18/19 soybean crop to be 119.5 MMT, with 2018 exports seen at 77 MMT and crush at 43.6 MMT. These are some of the lowest numbers we have seen recently for Brazil. CONAB will update their numbers on Thursday morning.

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