Soybean futures are steady to fractionally mixed at midday. December meal is down 20 cents/ton, with nearby bean oil 11 points higher. The USDA announced a private export sale of 130,000 MT of Soybeans to China for 17/18 delivery. The Crop Progress report showed the Soybean harvest advancing just 3% from last week at 96% complete. There are 7 states that were reported at 100% harvested, including IL, NE, SD, and MN. Most other states that are still in the fields are lagging their normal pace. The national average cash price was at $9.14 on Monday evening, as the national average basis was at -76 cents.

Jan 18 Soybeans are at $9.90 1/4, up 1/4 cent,

Mar 18 Soybeans are at $10.01 1/4, unch ,

May 18 Soybeans are at $10.10 3/4, unch ,

Jul 18 Soybeans are at $10.18 3/4, down 1/2 cent,

Dec 17 Soybean Meal is at $319.60, down $0.20

Dec 17 Soybean Oil is at $34.06, up $0.11

Market Commentary provided by:

Brugler Marketing & Management LLC
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