Soybean futures were marginally to 1 1/2 cents lower on Tuesday. December meal was down $1.50/ton, with nearby bean oil 22 points higher. Rainfall covering most of Brazil put a little pressure on the market, giving moisture to the beans already in the ground. The USDA announced a private export sale of 130,000 MT of Soybeans to China for 17/18 delivery. There are 7 states that were reported at 100% harvested on Monday, 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 closed at $9.89, down 1 cent,

Mar 18 Soybeans closed at $10.00 1/4, down 1 cent,

May 18 Soybeans closed at $10.10, down 3/4 cent,

Aug 18 Soybeans closed at $10.18 3/4, down 1 1/4 cents,

Dec 17 Soybean Meal closed at $318.30, down $1.50,

Dec 17 Soybean Oil closed at $34.17, up $0.22

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353

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