Soybeans Close Lower on Trade Aid Rumor

Soybean futures closed Turnaround Tuesday with 9 to 9 3/4 cent losses, after being higher for most of the morning. July soy meal was down $2/ton, with soybean oil 36 points lower. A rumor this morning said President Trump is considering $2/bu trade aid for soybeans, though no other details or official announcements have been made. That would talk a lot of producers out of considering prevent plant claims and into late planted soybeans. After Monday’s close, the Crop Progress report indicated IA was 27% planted, with MN at 10% complete, SD only 4%, IL 9% and NE 40% in the ground.

Jul 19 Soybeans closed at $8.22, down 9 3/4 cents,

Aug 19 Soybeans closed at $8.28 3/4, down 9 3/4 cents,

Sep 19 Soybeans closed at $8.35 1/2, down 9 1/2 cents,

Jan 20 Soybeans closed at $8.60 1/4, down 9 1/2 cents,

Jul 19 Soybean Meal closed at $295.30, down $2.00,

Jul 19 Soybean Oil closed at $27.14, down $0.36

--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

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.