Soybeans

Soybean futures finished Thursday with gains of 2 to 4 cents in most contracts. December meal was down 40 cents/ton, with nearby bean oil 42 points higher. In addition to the weekly Export Sales report, the USDA announced a private export sale of 384,000 MT of 17/18 soybeans to China through their daily system. Soybean 17/18 export sales for the week ending 10/12 fell just shy of expectations at 1.275 MMT. That was down 10% from the same a year ago and lagging last week by 27%. China purchased the majority of the sales, at 1.175 MMT, with 523,000 MT switched from unknown destinations. Weekly exports hit 1.85 MMT (68 million bushels), a MY high and 18.7% larger than last year. Soy meal sales came in at 296,015 MT for 17/18, with soy oil at 27,444 MT. Analysts with Informa increased their 2018 US soybean acreage estimate 1.29 million acres from last month to an expected record 90.347 million acres.

Nov 17 Soybeans closed at $9.86 1/2, up 2 1/4 cents,

Jan 18 Soybeans closed at $9.97, up 2 cents,

Mar 18 Soybeans closed at $10.07, up 2 1/4 cents,

Jul 18 Soybeans closed at $10.24, up 2 1/2 cents,

Dec 17 Soybean Meal closed at $321.40, down $0.40,

Dec 17 Soybean Oil closed at $33.83, up $0.42




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