Soybeans

Soybean futures are currently 7 to 8 cents in the greed, since seeing losses of 9 to 10 cents in most front months on Thursday. Front Month soy meal was down $1.40/ton, with soybean oil 18 points in the red. Uncertainty over the ongoing US-China trade dispute is still weighing on the market. Soybean export shipments during the week of June 14 totaled 992,047 MT, well above last year and 66.1% larger than last week. Meal exports totaled 201,142 MT during that week, with oil at 29,896 MT. Commitments for soybeans exports are still 4.2% behind a year ago. They are 100% of the full year USDA export projection, compared to the average at 101% and 102% last year. Argentina's soybean production is now seen at 37.2 MMT by the country's ag ministry, 600,000 MT higher than the previous estimate.




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