Soybeans Firm on Export Sale and NOPA Report

Soybean futures ended the Monday session with 3 to 3 3/4 cent gains. Front month meal futures were up $3.10/ton and May soy oil 14 points lower. A private export sale of 140,000 MT of 18/19 soybeans were reported by the USDA this morning. The monthly crush report from NOPA showed its members using 170.011 mbu of soybeans in March. That was the second largest total on record, only behind last year, and nearly 2 mbu above most estimates. Soybean oil stocks were seen at 1.76 billion pounds, slightly above Feb but 9.6% below last year. Soy oil yield was high, with a low meal yield. Weekly Export Inspections were tallied at just 460,667 MT during the week of 4/11. That was 3.18% above this week last year but down 48.2% from the previous week. Just two cargoes were on their way to China @ a total of 130,159 MT.

May 19 Soybeans closed at $8.98 3/4, up 3 1/2 cents,

Jul 19 Soybeans closed at $9.12 1/2, up 3 3/4 cents,

Aug 19 Soybeans closed at $9.18, up 3 3/4 cents,

Nov 19 Soybeans closed at $9.31, up 3 1/4 cents,

May 19 Soybean Meal closed at $311.00, up $3.10,

May 19 Soybean Oil closed at $28.81, down $0.14

--provided by Brugler Marketing & Management

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