Soybeans Lower with Pressure from the Grain Complex

Soybean futures are trading 10 to 11 cents lower in the nearby contracts. Soy meal is down $2.70/ton, with bean oil down 30 points. Some hot money is moving back to the stock market after a strong performance there on Tuesday. Analysts with IEG Vantage estimate that 2019 US soybean planted acres will total 85.037 million, with a projected national average yield at 51.1 bpa. The USDA Export Sales report on Thursday is expected to show 200,000-500,000 MT of old crop soybeans sold in the week ending May 30, with 50,000-25,000 MT for new crop. Soy Meal sales are seen at 100,000-350,000 MT, with soy oil at 8,000-25,000 MT.

Jul 19 Soybeans are at $8.71 1/2, down 10 1/4 cents,

Aug 19 Soybeans are at $8.78 1/4, down 10 1/2 cents,

Sep 19 Soybeans are at $8.85 1/2, down 10 1/2 cents,

Nov 19 Soybeans are at $8.99, down 10 1/4 cents,

Jul 19 Soybean Meal is at $318.30, down $2.70

Jul 19 Soybean Oil is at $27.19, down $0.30

--provided by Brugler Marketing & Management

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