Soybeans Flashing Double Digit Gains

Early in the Thursday session, soy futures are 7 to 15 cents higher.  Soybean ended Wednesday with 16 to 19 1/2 cent losses. There was some rotation of ownership, with preliminary open interest rising only 792 contracts for the day. The ~15 cent carry for front month soybean futures on Dalian compares to a 2 3/4 cent inverse for March to May on CBT beans. The US national average soybean cash price from cmdtyView was $13.24/bu. Soymeal futures were down $8.10 to $8.60/ton on Wednesday, but BO ended the day 55 to 84 points higher. Export Sales figures are scheduled for tomorrow AM, as the USDA was closed for Martin Luther King jr Day. Chinese import data showed 2020 total CY bean imports were 100.33 MMT.

--- 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.