Premium Feed & Grain -

Soy Oil Adds Crush Value

Alan Brugler - Barchart - Mon May 17, 9:36PM UTC

Related Stocks

CSK24 - Soybean Crush

Sym	Last	Chg	Pct
CSK24	86-6s	+0-2	+0.29%
ZSK24	1163-2	+0-4	+0.04%
ZSPAUS.CM	11.1097	-0.0286	-0.26%
ZSN24	1180-0	+0-2	+0.02%
ZSX21	1234-0s	+21-6	+1.79%
ZSPX21US.CM	12.3270	+0.2300	+1.90%

The Monday soy complex closed mixed, and the CME Synthetic Soy Crush was 4 3/4 cents higher on Monday propped up by soybean oil. Soybean oil futures rallied 30 to 139 points on the day, which for July set a new all time high of 72.32 cents. Meal futures closed the session $2.90 to $3.20 weaker. Soybeans themselves closed mixed, as July was 1 1/4 cents higher.

NASS reported 61% of soybean fields had been planted by 5/16. That was up from 42% last week and remains well ahead of the 37% average. USDA’s NASS reported soybean planting in NE was 71% finished compared to the 46% average. IA beans were 83% planted compared to the average of 48%. Soybeans were 20% emerged as of 5/16, with the 5-yr average for 12% emergence.

The weekly Export Inspections data from USDA showed 308,818 MT of soybeans were shipped during the week ending 5/13. That was up from 244k MT last week, but below the 410,203 MT shipped the same week last season. Accumulated soybean exports were 56.012 MMT, or 90% of USDA’s full year forecast.

NOPA members reported 160.31 mbu of soybeans were processed in April. That was well below the 168.7 mbu crush average trade guess and down from 171.8 mbu reported by NOPA members in April 2020. Members crushed 178 mbu of soybeans in March with an additional processing day. Soy oil stocks were also below estimates in the 1.78 range at 1.702 billion pounds.

Jul 21 Soybeans closed at $15.87 1/2, up 1 1/4 cents,

Nearby Cash was $15.89 1/1, down 1 1/8 cents,

Aug 21 Soybeans closed at $15.25 1/2, down 2 cents,

Nov 21 Soybeans closed at $13.97, down 3 3/4 cents,

New Crop Cash was $13.47 1/3, down 3 3/4 cents,

Market Commentary provided by: <img src="https://s3.amazonaws.com/images1.aws.barchart.com/logos/bruglerlogo.gif" border="0" /> Brugler Marketing & Management LLC 1908 N. 203rd St.Omaha, NE 68022 Phone: 402-697-3623 Fax: 402-289-2353 E-mail: <a href="mailto:alanb@bruglermktg.com">alanb@bruglermktg.com</a> Web: <a href="http://bruglermarketing.com/">http://bruglermarketing.com</a>   <div class="MsoNormal" align="center"> 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 <a href="http://www.bruglermarketing.com/BruglerSampler">here</a> to learn more about what we have to offer, or call 402-697-3623. Do it today! <hr /> 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! <a href="http://www.bruglermarketing.com">Start here</a> </div> Want this Ag News delivered to your inbox? <a href="http://www.agricharts.com/forms/ac_ag.php">Get the FREE Brugler Ag Newsletter, delivered 3 times daily.</a>