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Turnaround Tuesday Brought Fractional Gains

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Nearby soybean futures made fractional gains on Turnaround Tuesday. Soybean meal finished the Tuesday session with a gain of $1.20/ton. Soy oil futures also finished in the black, after a 3 point gain. Brazil’s official export data for November showed that the country exported 5.158 MMT through the month. That about matches (-700 MT) their October shipments, but was 7.06% larger than Nov 2018. Soymeal exports were 0.22 MMT lower than their October shipments. Analysts polled believe that Brazil’s soybean crop size will be revised upward. The average expectation for the 19/20 crop is 122.7 MMT which would be a 6.7% hike from the government’s last update.

Jan 20 Soybeans closed at $8.71, up 1/2 cent,

Mar 20 Soybeans closed at $8.85 1/2, up 1/4 cent,

May 20 Soybeans closed at $9.00 3/4, up 1/2 cent,

Jul 20 Soybeans closed at $9.14, up 1/2 cent,

Dec 19 Soybean Meal closed at $292.50, up $1.20

Dec 19 Soybean Oil closed at $29.99, up $0.03

--- provided by Brugler Marketing & Management

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