Soy Complex Mixed Mostly Lower

Front month soybean futures were lower on Monday, closing with losses of 1 3/4 to 6 1/4 cents. Meal futures were also lower with a $4.30/ton drop on the day. Bean oil was higher on Monday, closing with 25 to 45 point gains. USDA announced a private export sale for 218,300 MT of beans to unknown purchasers, which had been widely rumored on Friday. Soybean exports from USDA’s weekly update were 44.52 mbu. That was down from 50.7 LW but above the 36.2 mbu from the same week last year. China was the top destination for the exported beans, with 74% of the total. The weekly report had MYTD bean shipments at 178.16 mbu through the week ending Sept 24. Soybean harvest progressed 14% week to week with 20% of this year’s crop out of the fields. That is 5 percent points ahead of average. In IA 30% of soybeans were harvested, compared to their 5-yr average of 8%. NE beans were 27% cut, compared to the 5-yr average of 19%. Condition ratings were a 364 on the Brugler500 index, up 2 points wk/wk. Ahead of USDA’s quarterly grain stocks report, analysts are expecting 578 mbu of soybean stocks on Sept. 1.

Nov 20 Soybeans closed at $9.96 1/4, down 6 1/4 cents,

Jan 21 Soybeans closed at $10.00 1/4, down 6 cents,

Mar 21 Soybeans closed at $9.96 1/4, down 5 cents,

May 21 Soybeans closed at $9.96, down 3 1/2 cents,

Oct 20 Soybean Meal closed at $332.60, down $4.30

Oct 20 Soybean Oil closed at $33.29, up $0.45

--- provided by Brugler Marketing & Management




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