Soybean futures finished the Wednesday trade session with most contracts 6 to 8 1/4 cents in the green. December meal was up $6.10/ton, with nearby bean oil down 12 points. Rains in South America this past week missed a chunk of Argentina. A possible La Nina pattern could leave the country much cooler and/or drier than normal early, hurting yields. On Friday, the delayed USDA Export Sales report is expected to show 17/18 soybean sales of 1-1.4 MMT during the week ending 11/16. There are also 0-100,000 MT estimated in 18/19 sales. Soy meal export sales are projected to run 100,000-300,000 MT, with soy oil expected at 0-22,000 MT. The market will be closed on Thursday in observance of Thanksgiving, with Friday showing an early close around noon CST.

Jan 18 Soybeans closed at $9.97 1/4, up 8 1/4 cents,

Mar 18 Soybeans closed at $10.08 1/2, up 8 1/4 cents,

May 18 Soybeans closed at $10.18 1/4, up 8 1/4 cents,

Aug 18 Soybeans closed at $10.26 1/4, up 7 1/2 cents,

Dec 17 Soybean Meal closed at $324.40, up $6.10,

Dec 17 Soybean Oil closed at $34.05, down $0.12

Market Commentary provided by:

Brugler Marketing & Management LLC
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