Soybeans

Soybean futures settled the Friday session with most contracts 3 to 4 1/4 cents higher, with back months steady to up 2. Meal futures were up $3.20/ton, with nearby soy oil up 5 points. This morning, the USDA indicated that old crop soybean bookings last week totaled 1.24 MMT, beating out expectations. China purchased 576,600 MT, with Mexico buying 238,000 MT. The first full non-Holiday week of 2018 also showed new crop sales of 287,660 MT. Soybean shipments totaled 1.179 MMT, slipping 23.8% from a week ago and lagging last year by 25.4%. Soybean meal sales were at 281,820 MT, as soy oil sales tallied 27,922 MT. The soybean harvest in Brazil has totaled 0.8% for far, according to AgRural, compared to the average of 1.2% and last year’s 2.2%. BAGE rates soybean conditions in Argentina at 37.3% gd/ex, vs. last year’s 52.6%.

Mar 18 Soybeans closed at $9.77 1/4, up 4 1/4 cents,

May 18 Soybeans closed at $9.88 1/2, up 4 1/4 cents,

Jul 18 Soybeans closed at $9.98 1/4, up 4 1/4 cents,

Sep 18 Soybeans closed at $9.97 1/4, up 2 3/4 cents,

Mar 18 Soybean Meal closed at $331.60, up $3.20,

Mar 18 Soybean Oil closed at $32.28, up $0.05




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