Soybean futures settled 7 1/2 to 10 1/2 cents in the red following this morning’s September WASDE report. Sept soy meal was down $3.80/ton, with nearby bean oil 5 points higher. A private export sale of 132,000 MT to Unknown Destinations for 17/18 was announced this morning through the USDA’s daily reporting system. The USDA adjusted their 2017 US national soybean yield up 0.5 bpa to 49.9 bpa. NASS increased production 50 mbu to 4.431 mbu with harvested acreage change deferred until October. Old crop ending stocks were trimmed 25 million bushels on a 45 mbu increase in exports. New crop US ending stocks were unchanged from the August report at 475 mbu. World ending stock for 17/18 shifted down just 0.25 MMT to 97.53 MMT.

Sep 17 Soybeans closed at $9.44 1/4, down 10 1/2 cents,

Nov 17 Soybeans closed at $9.50 1/2, down 9 1/2 cents,

Jan 18 Soybeans closed at $9.60 3/4, down 9 1/4 cents,

May 18 Soybeans closed at $9.78 1/2, down 8 3/4 cents,

Sep 17 Soybean Meal closed at $295.10, down $3.80,

Sep 17 Soybean Oil closed at $34.84, up $0.05

Market Commentary provided by:

Brugler Marketing & Management LLC
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