Soybean futures posted 5 to 5 1/2 cent gains on Wednesday, after US/China trade talks concluded. Soymeal futures were up $1.40/ton, with soy oil 14 points higher. Following the 3-day meeting between US and China, a US trade representative stated one of the focuses was China’s pledge to buy a “substantial amount” of US goods. That is a follow up from earlier talks, with still few details on what, when, and how much will be purchased. With the government shutdown still ongoing, Export Sales data will not be released on Thursday morning. AgRural cut their Brazil production estimate by 4.5 MMT from November to 116.9 MMT. CONAB will be out with their updated estimates tomorrow morning.
Jan 19 Soybeans closed at $9.11 1/2, up 5 1/4 cents,
Mar 19 Soybeans closed at $9.24, up 5 1/2 cents,
May 19 Soybeans closed at $9.37 1/4, up 5 1/2 cents,
Aug 19 Soybeans closed at $9.53 1/2, up 5 1/4 cents,
Jan 19 Soybean Meal closed at $319.00, up $1.40,
Jan 19 Soybean Oil closed at $28.32, up $0.14
--provided by Brugler Marketing & Management