Soybean Market Pulls 3 to 4 Lower
BRUG - Fri May 17, 7:28AM CDT

Soybean futures are mostly 3 to 4 cents lower this morning, anticipating more acreage if corn is delayed. Beans had 4 to 5 cent gains in the nearby contracts yesterday. July soy meal was up $2.20/ton, with soybean oil 48 points higher. The Export Sales report from FAS indicated that 370,908 MT of 18/19 soybeans were sold during the week of May 9. That was 79.4% larger than last year at this time. Sales of 303,400 MT for 2019/20 were the largest seen so far. Meal sales totaled 265,432 MT, with soy oil at 10,793 MT. BAGE raised their Argentine soy crop estimate by 1 to 56 MMT, They show 76.7% of the crop harvested, 6.1% above the average.

--provided by Brugler Marketing & Management




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