Beans Fade into Red at Close

Front month bean futures ended the first trade session of the new month with 6 1/4 to 6 3/4 cent losses. Soybean meal futures also faded midday gains and closed down by 30 to 50 cents/ton. BO futures were the weakest of the soy complex, closing 1.1% to 1.28% lower. USDA reported October soybean crush at 196.55 mbu. That was in line with estimates and 15% above September for a record October crush. Crushers produced 4.335m tons of meal and 2.282b lbs of oil. Soy oil stocks were 1.964 billion lbs. That was above the average trade guess, but in line with the range of estimates. StoneX estimates Brazilian soybean production at 133.91 MMT, a 43k MT increase from their November estimate.

Jan 21 Soybeans closed at $11.62, down 6 1/2 cents,
Mar 21 Soybeans closed at $11.63, down 6 1/2 cents,
May 21 Soybeans closed at $11.61, down 6 3/4 cents,
Jul 21 Soybeans closed at $11.58 1/2, down 6 1/4 cents,
Jan 21 Soybean Meal closed at $390.20, down $0.30
Jan 21 Soybean Oil closed at $37.01, down $0.48

--- provided by Brugler Marketing & Management

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.