Soybeans Below $9 Mark

Soybeans futures closed below $9 for the first time since late September for the January contract. The futures finished with a 21 1/4 cent loss for the week. Soybean meal closed lower by $2/ton, with a $8.10 loss on the week. Soybean oil finished Friday 19 points in the black, to push the wk/wk gain to 45 points. Export commitments of soybeans are now 4.8% above last year, even as unshipped sales down 3%. Accumulated exports are up 14% at 26% of the USDA projection. Combined, shipped and unshipped sales are 49% of that projection, with the normal pace at 63%. ARC Mercosul estimates that the Brazilian soybean crop is 77.3% planted, vs. the average of 80.5% and 89.6% last year. Managed money was reported net long by 18,452 contracts, with the long having shrank by 12,598 wk/wk. That was the third consecutive reduction of that long position.

Jan 20 Soybeans closed at $8.97, down 4 cents,

Mar 20 Soybeans closed at $9.11 1/4, down 4 cents,

May 20 Soybeans closed at $9.25, down 3 1/2 cents,

Jul 20 Soybeans closed at $9.37, down 3 1/4 cents,

Dec 19 Soybean Meal closed at $299.00, down $2.00

Dec 19 Soybean Oil closed at $30.88, up $0.19

-- provided by Brugler Marketing & Management

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.