Soybeans Get Boost from Soy Oil

Soybean futures settled 1 to 1 3/4 cents higher on position squaring ahead of the 3-day holiday weekend. Meal futures were down $.70/ton but May soy oil was 34 points higher (worth almost 4 cents per bushel in product value). This morning’s weekly USDA Export Sales report confirmed net soybean sales of 382,100 MT for old crop and 21,100 MT for new crop. Meal sales were expected to be 125,000-325,000 MT, with soy oil at 8,000-30,000 MT. The actual meal bookings were on the high side of expectations at 295,300 MT, with soy oil at 24,200 MT.

May 19 Soybeans closed at $8.80 1/2, up 1 1/2 cents,

Jul 19 Soybeans closed at $8.94 1/4, up 1 3/4 cents,

Aug 19 Soybeans closed at $9.00, up 1 1/2 cents,

Sep 19 Soybeans closed at $9.04 3/4, up 1 1/4 cents,

May 19 Soybean Meal closed at $303.20, down $.70,

May 19 Soybean Oil closed at $28.80, up .34

--provided by Brugler Marketing & Management

Market Commentary provided by:

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