Beans are Up 5 Cents at Midday

So far soybeans are up by as much as 5 ¾ cents in the front months, retreating from earlier session gains of 18-19 cents. Dec Soymeal futures as well as bean oil futures are both unchanged on their last trading day. The soybean market is mostly responsive to the news regarding the trade war, and that the US and China have agreed on the context in the Phase One deal. The bulls see the increase in Chinese purchases, while the bears are pointing out it’s the same story buy the rumor sell the fact action. Soybean export commitments are now 56% of the USDA projection, lagging the 69% average pace but above the 53% last year.

Jan 20 Soybeans are at $9.03 3/4, up 5 1/2 cents,

Mar 20 Soybeans are at $9.18, up 5 1/2 cents,

May 20 Soybeans are at $9.31 3/4, up 5 3/4 cents,

Jul 20 Soybeans are at $9.44, up 5 1/4 cents,

Dec 19 Soybean Meal is at $292.60, unch,

Dec 19 Soybean Oil is at $32.03, unch,

--- provided by Brugler Marketing & Management




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