Soybeans Lower on Wednesday

Soybean futures are trading 5 to 6 cents lower in the front months at midday. Soybean meal are down $1.90/ton, with soy oil 10 points lower. USDA reported a private export sale of 145,000 MT of soybeans to Unknown for 18/19 delivery this morning. Ahead of Thursday’s Export Sales report, analysts expect soybean sales to be 200,000-500,000 MT for old crop and 100,000-300,000 MT for new crop. Meal sales are estimated at 75,000-350,000 MT, with 5,000-25,000 MT for soy oil. Per wire surveys, US soybean stocks on June 1 are seen at 1.861 bbu, a 642 mbu jump from last year if realized. Wednesday’s Stats Canada report showed Canola acreage intentions at 21 million acres, down 8.2% from last year.

Jul 19 Soybeans are at $8.98, down 5 1/2 cents,

Aug 19 Soybeans are at $9.03 1/4, down 5 1/2 cents,

Sep 19 Soybeans are at $9.09 1/4, down 5 1/4 cents,

Nov 19 Soybeans are at $9.21 1/2, down 5 cents,

Jul 19 Soybean Meal is at $313.80, down $1.90

Jul 19 Soybean Oil is at $27.90, down $0.10

--provided by Brugler Marketing & Management

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