Soybeans Weaker as We Head to the Weekend
BRUG - Fri May 17, 12:30PM CDT

Soybean futures are trading 10 cents lower in most contracts on Friday. Concerns of corn acres switching to beans, as USDA mulls over future trade aid are pressuring the market lower. July soy meal is down $5.30/ton, with soybean oil 25 points lower. USDA data from Thursday shows total export commitments at 94% of the 18/19 projected total, down from the 98% average. Export shipments are 69% of that projection, with the average at 87% and last year (which had a robust fourth quarter) at 79%. 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.

Jul 19 Soybeans are at $8.29 3/4, down 10 cents,

Aug 19 Soybeans are at $8.36 1/4, down 10 1/4 cents,

Sep 19 Soybeans are at $8.42 1/2, down 10 cents,

Nov 19 Soybeans are at $8.54 3/4, down 10 cents,

Jul 19 Soybean Meal is at $296.60, down $5.30

Jul 19 Soybean Oil is at $27.47, down $0.25

--provided by Brugler Marketing & Management

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