Soybean Lower on Global Pressure, Weakness in Product Values

Soybean futures posted 13 to 15 1/4 cent losses on Tuesday, hitting new 2019 lows on the continious front month chart. Meal futures were $1.50/ton lower, May soy oil down 64 points, weakening product values. Argentina’s soybean harvest is now thought to be 30% complete. Producers don’t like the price, with plenty of global competition as it comes out of the field. Brazil has harvested 92% of the crop in that country. Brazil’s Ag Ministry expects soybean exports to be hurt by the spread of ASF in China. US Soybean cash prices averaged $7.81 on Tuesday per cmdtyView, $1.73 1/4 lower than the same day a year ago. The national basis was at -81 cents, 14 1/2 cents weaker yr/yr.

May 19 Soybeans closed at $8.62, down 15 cents,

Jul 19 Soybeans closed at $8.75 1/2, down 15 1/4 cents,

Aug 19 Soybeans closed at $8.81 1/2, down 14 3/4 cents,

Nov 19 Soybeans closed at $8.96 1/4, down 13 1/2 cents,

May 19 Soybean Meal closed at $301.00, down $1.50,

May 19 Soybean Oil closed at $28.06, down $0.64

--provided by Brugler Marketing & Management




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