Soybean Market News and Commentary

Soybean futures are currently 5 cents per bushel lower. They held positive to start out the week despite pressure from the grain complex, up 1 to 1 1/2 cents in most contracts. Meal futures were down 20 cents/ton in the nearby contract, with soy oil 15 points lower to weaken crush margins. The USDA Export Inspections report showed the third largest weekly shipment total this MY at 1.307 MMT for the week ending 2/21. That was up 70.3% from a year ago, as the shipments to China alone were 743,773 metric tonnes (MT). Brazil’s soybean harvest is estimated to be 45% complete, compared to 25% last year and the 27% five-year average.

--provided by Brugler Marketing & Management




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