Soybean Market Pressured by Losses in the Grains and Lack of Positive News

Soybean futures are down 4 to 5 cents on Wednesday. Spillover from the grains is dragging the market lower at midday. Meal futures are 30 cents/ton lower, with May soy oil 2 points in negative territory. May options expire on Friday. Canadian Canola acreage is expected to be down 6.6% from last year at 21.314 million acres, based off Stats Canada data released this morning. That was expected heading into today. Soybean acreage is also seen down 10.7% yr/yr at 5.64 million acres. Weakness in the Brazilian Real vs. the dollar is also seen as pressure on Wednesday.

May 19 Soybeans are at $8.57 1/2, down 4 1/2 cents,

Jul 19 Soybeans are at $8.71 1/4, down 4 1/4 cents,

Aug 19 Soybeans are at $8.77 1/4, down 4 1/4 cents,

Sep 19 Soybeans are at $8.82 1/2, down 4 1/4 cents,

May 19 Soybean Meal is at $300.70, down $0.30

May 19 Soybean Oil is at $28.04, down $0.02

--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.