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Soybeans Posting Double Digit Losses on Monday
BRUG - Mon Jul 22, 12:12PM CDT

Soybean futures are down 10 to 11 3/4 cents in most contracts on Monday. August soybean meal is down $2.60/ton, with soy oil 25 points lower. Cooler forecasts and rains from this weekend along with no news about Chinese purchases are causing some selling. USDA reported 559,462 MT of soybeans inspected for export during the week that ended on July 18. That was 34.6% below the week prior and down 23.17% from this week in 2018. Of that total, 317,456 MT was headed to China. The weekly Crop Progress report is generally seen showing soybean crop conditions near UNCH from last week at 54% gd/ex. Friday afternoon’s CFTC report indicated money managers in soybean futures and options backing off their net short position by 2,999 contracts to -38,935 contracts.

AUG 19 Soybeans are at $8.90 1/4, down 11 1/4 cents,

SEP 19 Soybeans are at $8.95 3/4, down 11 1/2 cents,

NOV 19 Soybeans are at $9.07 1/2, down 11 3/4 cents,

JAN 20 Soybeans are at $9.20 1/4, down 11 1/2 cents,

AUG 19 Soybean Meal is at $308.60, down $2.60,

AUG 19 Soybean Oil is at $27.85, down $0.25

--provided by Brugler Marketing & Management

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