Soybeans Higher at Midday

Soybean futures are mostly 5 to 7 cents higher in the front months at midday. Soymeal is up 3.20/ton, with bean oil down 4 points. A total of 682,155 MT of soybeans were exported in the week that ended 6/20. That was slightly higher than the week prior and 32.02% larger than the same week in 2018. Of that total, 529,638 MT (77.64%) were headed to China. Trade ideas for soybean planting progress are in the 86-89% range, with the 5-year average for this week at 95%. Money managers in soybean futures and options trimmed their net short position by 35,848 contracts as of 6/18 to -55,307 contracts according to Commitment of Traders data.

Jul 19 Soybeans are at $9.09 1/2, up 6 3/4 cents,

Aug 19 Soybeans are at $9.15 1/4, up 6 3/4 cents,

Sep 19 Soybeans are at $9.21 1/2, up 6 3/4 cents,

Nov 19 Soybeans are at $9.33 1/4, up 5 3/4 cents,

Jul 19 Soybean Meal is at $318.80, up $3.20

Jul 19 Soybean Oil is at $28.40, down $0.04

--provided by Brugler Marketing & Management

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