Soybeans Down Off the Highs on Trade Aid Rumor

Soybean futures down 4 to 6 cents in most contracts on Tuesday after being higher for most of the morning. July soy meal is down $1.90/ton, with soybean oil 27 points lower. A rumor this morning says President Trump is considering $2/bu trade aid for soybeans, though no 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 that just 19% of the soybean crop was planted on May 19, vs. the average of 47%. IA was 27% complete, with MN at 10%, SD only 4%, IL 9% and NE 40% in the ground. NASS also reported that 5% of the US crop was emerged, compared to the normal pace at 17%.

Jul 19 Soybeans are at $8.26 3/4, down 5 cents,

Aug 19 Soybeans are at $8.32 1/2, down 6 cents,

Sep 19 Soybeans are at $8.40, down 5 cents,

Nov 19 Soybeans are at $8.53, down 4 3/4 cents,

Jul 19 Soybean Meal is at $295.40, down $1.90

Jul 19 Soybean Oil is at $27.23, down $0.27

--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.