Soybean Morning Update

Soybean Morning Update

GLOBEX Snapshot
Contract Last Net Change High Low Volume
ZSN19 857.5 -1.75 860.75 853.25 9791
ZSQ19 863.75 -2.5 867.75 860 1127
ZSU19 870.75 -2.5 874.75 867.25 508
ZSX19 885.25 -1.75 888.25 880.75 8051
ZSF20 897.5 -2.75 901.5 894.25 798
ZMN19 314.3 -0.1 314.3 312 3758
ZMQ19 315.5 -0.1 315.5 313.2 576
ZMU19 317.1 -0.2 317.1 314.8 250
ZLN19 27.05 -0.17 27.32 26.93 8465
ZLQ19 27.2 -0.15 27.45 27.08 1293
ZLU19 27.3 -0.17 27.52 27.21 887

QT News - Top News
-- Grain trade sources Wednesday said 60,000 mt of Soymeal was bought by Major Feedmill Group of South Korea, paying a reported $369.50/mt cif. The grain is for shipment in September.
-- Chief economist of the USDA suggested the agency did not have enough data for the June report and expects the agency next month to adjust US soybean area and yield forecasts.
-- Malaysian Palm Oil Board data released Wednesday, placed end of May oil stockpiles at 2.45 mln mt off -10.3% from April's level, analysts' expectations were at 2.464 mln mt. and May 2018 ending stocks were 2.170 mln mt.
-- Malaysian Palm Oil Board data released Wednesday, placed May palm oil exports at 1.711 mln mt up +3.5% from April's level, analysts' expectations were at 1.707 mln mt, and May 2018 production was 1.291 mln mt.
-- Malaysian Palm Oil Board data released Wednesday, placed May palm oil production at 1.671 mln mt up +1.6% from April's level, analysts' expectations were at 1.616 mln mt, and May 2018 production was 1.525 mln mt.
-- While visiting ethanol plant in Iowa Tuesday, President Trump signed an executive order that will streamline the review process federal agencies have for agriculture biotechnology. The change could speed up the process for genetically modified seeds and livestock.
-- Brazilian oilseed crushing group, ABIOVE, Tuesday pegged 18/19 Soybean production estimate at 117.6 mln mt, steady compared to their May estimate. They also kept their 2019 soybean export forecast unchanged at 68.1 mln mt.

PENDING TENDERS
-- Pending Tender: South Korea's state run fishery Tuesday announced June 17th as offer deadline in tender seeking 18,000 mt of optional origin non-GMO Soybeans. The beans would be for delivery between July and December of this year.

-- Euronext Paris August rapeseed futures Wednesday are trading -1.25 euros lower at 365.50 euros/mt
-- Dalian Sept soybean futures Wednesday traded -23 yuan lower ending at 3,488 yuan/mt; Sept soymeal futures lost -7 yuan to end at 2,864 yuan/mt
-- Dalian vegoil futures Wednesday traded lower, both palm oil and soyoil lost -28 yuan ending at 4,366 yuan/mt and 5,432 yuan/mt, respectively
-- Malaysian cash offers for July delivered RBD palm oil and olein traded -$5/mt lower Wednesday ending at $505/mt and $510/mt, respectively
-- Outside markets. Crude Oil off -$1.42 @ $51.85; Gold up +$8.20 @ $1339.40; Silver up +3.5c @ $14.775; US $ index up +4 pts @ 96.68


QT News Cash Markets
Bean Barge Corn Barge SRW Barge HRW Track Ill Riv Frt
12 pro 11 pro
Jun +54/60 N +60/65 N +90/97 N +168/175 N +128/140 N 450/???
Jly +46/53 N +47/50 N +80/85 N +165/172 N +120/130 N 440
Aug +40/46 Q +35/40 U +70/76 U +152/160 U +106/130 U 420

Hi-pro meal Soy oil
Chicago -35 N +10 N +20 N
Toledo -30 N +13 N +20 N
Dec ILL -22 N +10 N -18 N -00 N

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