Soy Complex Mixed at Midday

Beans are working back higher from early session losses. The deffered months are 1 to 2 1/4 cents higher at midday, while fractional to 2 1/2 cent losses remain on the board for nearby contracts. In soymeal, futures are $1.20 to $1.80 higher. BO futures are 39 to 42 points in the red so far. The weekly Export Sales report listed 1.62 MMT of bean bookings for the week ending 10/22. That was down 27% wk/wk, but in-line with estimates and up 80% yr/yr. China and Mexico were the top soybean purchasers on the week. For soymeal, USDA showed 199k MT booked. That was on the low end of estimates but up 11% yr/yr. Bean oil bookings were 80% below the same week last year with just 5,971 MT booked.

Nov 20 Soybeans are at $10.54 3/4, down 2 1/2 cents,

Jan 21 Soybeans are at $10.52 1/4, down 2 1/2 cents,

Mar 21 Soybeans are at $10.41 1/2, down 1/4 cent,

May 21 Soybeans are at $10.38, up 1 1/2 cents,

Dec 20 Soybean Meal is at $378.50, up $1.80

Dec 20 Soybean Oil is at $33.01, down $0.41

--- provided by Brugler Marketing & Management

Market Commentary provided by:

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