Soybean futures are as much as 1 1/2 cents higher this morning. They ended the Thursday session with the nearby contracts 6 to 7 cents lower. Front month meal futures were down $2.90/ton and May soy oil down 9 points. The Export Sales report showed only 270,376 MT sold in the week that ended on 4/4. That was well below last week’s total and more than 5 times smaller than the same week last year. Export commitments for 2018/19 are now down 17.1% from the same time last year. Soy meal sales were tallied at 152,143 MT, with soy oil strong at 33,834 MT. Brazil’s soybean production for 18/19 was estimated at 113.82 MMT by CONAB, 366,000 MT higher than their previous number but still well below USDA and most of the private estimates.
--provided by Brugler Marketing & Management