Soybeans Show Weakness on Friday but Manage to Close the Week Higher
BRUG - Fri May 17, 5:38PM CDT

Soybean futures saw weakness into Friday’s close, with the front months down 17 to 18 1/4 cents. Concerns of corn acres switching to beans pressured the market. July soybeans were up 1.54% this week, with meal 2.44% higher. July soy meal was down $7.60/ton, with soybean oil 50 points lower. Commitment of Traders data shows managed money spec funds adding 8,282 contracts to their record net short position of 168,835 contracts in the week ending May 14. 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%.

Jul 19 Soybeans closed at $8.21 3/4, down 18 cents,

Aug 19 Soybeans closed at $8.28 1/4, down 18 1/4 cents,

Sep 19 Soybeans closed at $8.34 3/4, down 17 3/4 cents,

Jan 20 Soybeans closed at $8.59 1/2, down 17 3/4 cents,

Jul 19 Soybean Meal closed at $294.30, down $7.60,

Jul 19 Soybean Oil closed at $27.22, down $0.50

--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
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

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.