Soybeans Hold Steady
BRUG - Tue Nov 12, 4:51PM CST

Soybean futures found support today, and remained pretty steady throughout, to finish fractionally mixed on Tuesday. Soybean meal was $1.70/ton higher at the close, with bean oil 39 points lower. The USDA Crop Progress Report that was released this afternoon reported that national soybean harvest was right in line with trader expectations, listed at 85%. Harvest averages 92% completion for the time of year, however harvest is only 2 percentage points behind last year’s pace. National bean harvest was up 10% on the week with great weather, although with the recent snow in most of the WCB that efficient pace may slow by next week’s report. Soybean export inspections released this morning from the USDA, showed 48.929 mbu of soybeans for the week ending 11/07. That was just below the same week last year and 5.475 mbu less than last week. The MYTD accumulated export inspections for soybeans are 7.01% above 18/19’s pace

Trade ideas for US harvest progress are in the 84-85% range for the weekly report.

NOV 19 Soybeans closed at $9.05 3/4, up 3/4 cent,

JAN 19 Soybeans closed at $9.17, unch,

MAR 20 Soybeans closed at $9.30 1/4, down 1/4 cent,

MAY 20 Soybeans closed at $9.42 3/4, unch,

DEC 19 Soybean Meal closed at $302.30, up $1.70,

DEC 19 Soybean Oil closed at $31.03, down $0.39

--- provided by Brugler Marketing & Management




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