BRUG - Mon Aug 21, 11:35AM CDT

Soybean futures are trading a penny to 2 3/4 cents higher in the front months on Monday. Sep soy meal is down $1.80/ton, with nearby bean oil 36 points higher. The USDA reported 665,283 MT of soybeans exported for the week of August 17, up 12.64% wk/wk but down 29.75% yr/yr. They also announced private export sales of 198,000 MT of soybeans to China and 463,000 MT to unknown destinations for the 17/18 marketing year. Soybean condition ratings are estimated at 1% to 2% better than last week’s 59% g/e. The CFTC showed spec traders switching back to a net short position of 14,399 contracts in soybean futures and options as of Tuesday. That is a net weekly change of 27,312 contracts.

Sep 17 Soybeans are at $9.34 3/4, down 2 3/4 cents,

Nov 17 Soybeans are at $9.36 1/4, down 1 1/2 cents,

Jan 18 Soybeans are at $9.44 1/4, down 1 1/2 cents,

Mar 18 Soybeans are at $9.52 3/4, down 1 cent,

Sep 17 Soybean Meal is at $295.40, down $1.80

Sep 17 Soybean Oil is at $33.97, up $0.36

Market Commentary provided by:

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