Soybeans Higher at Midday

Soybeans futures are trading 2 to 3 cents higher in the front months. Soybean meal is up $1.80/ton, with soy oil 38 points lower. USDA tallied a total of 906,029 MT of soybeans exported in the week of 9/5, with 501,778 MT shipped since Sep 1. That was down 29.79% from the previous week and 2.3% lower than the same week last year. Of the total 408,772 MT was headed to China. The average trade guess for US soy production on Thursday is 3.577 billion bushels, as yield is seen down 1.3 from August to 47.2 bpa. Crop Progress data, released this afternoon, is seen by the trade as likely to be steady from last week. Customs data from China shows imports of 9.45 MMT of soybeans during August, up 3.6% from last year and 12.26% larger than July.

SEP 19 Soybeans are at $8.47 3/4, up 2 3/4 cents,

NOV 19 Soybeans are at $8.60 1/4, up 2 1/2 cents,

JAN 19 Soybeans are at $8.74, up 2 cents,

MAR 20 Soybeans are at $8.88, up 2 cents,

SEP 19 Soybean Meal is at $289.00, up $1.80,

SEP 19 Soybean Oil is at $28.10, down $0.38

-- provided by Brugler Marketing & Management




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