Soybeans Off Their Highs, Lower Than Expected Crush
BRUG - Wed May 15, 12:25PM CDT

Soybean futures are 3 to 4 cents higher in the front months on Wednesday, 10-12 cents off their overnight highs in most contracts. July soy meal is up $2/ton, with soybean oil 25 points higher. The Monthly crush report from NOPA showed that 159.99 mbu of soybeans were crushed by its member in April. That was below most estimates by a million bushels or so and down 0.7% from the same month last year. Soybean oil stocks were slightly higher than the average trade guess at 1.787 billion pounds. Analysts expect the Export Sales report on Thursday to show 100,000-400,000 MT of old crop beans, with 200,000-600,000 MT for new crop bookings. Soymeal is seen at 125,000-400,000, with Soy oil at 5,000-25,000 MT.

Jul 19 Soybeans are at $8.35 1/4, up 3 3/4 cents,

Aug 19 Soybeans are at $8.42, up 4 cents,

Sep 19 Soybeans are at $8.48, up 4 cents,

Nov 19 Soybeans are at $8.59 3/4, up 3 1/4 cents,

Jul 19 Soybean Meal is at $300.00, up $2.00

Jul 19 Soybean Oil is at $27.25, up $0.25

--provided by Brugler Marketing & Management




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