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Thursday Beans Closed in the Black
BRUG - Thu Dec 12, 4:41PM CST

Nearby soybean futures were up by 3 1/4 to 4 1/2 cents after Thursday action. Soymeal futures lost 40 cents/ton, while soy oil futures were up 65 points. The White House economic advisors met today to discuss phase 1 and the scheduled Dec 15th tariff hikes; at the meeting conclusion they announced both sides had agreed to a phase one deal, awaiting presidential sign offs. Market reaction was muted because this is the point where previous agreements went off the rails. Weekly USDA Export Sales data showed soybean bookings for the week ending 12/05 at the top end of trader estimates, with 1.05 MMT of current year sales. Total sales (including next MY) were 1.175 MMT. That was a 71.9% increase over last week, and a 59.1% increase over the same week last year for total net sales. Weekly shipments through the same week were at 1.443 MMT, a 4% decrease from last week and a 32.4% increase yr/yr. China was the destination for 62.19% of those shipments. Accumulated shipments since September 1 are 17.431 MMT. The trade was anticipating the weekly update to show 125-300k MT for soybean meal and the USDA report showed 257,668 MT of total meal bookings. As for bean oil, Bookings were just above the expected 8k-30k MT, with the report indicating 30,227 MT of sales through the week ending 12/5.

Jan 20 Soybeans closed at $8.98, up 4 1/2 cents,

Mar 20 Soybeans closed at $9.12 1/2, up 4 1/2 cents,

May 20 Soybeans closed at $9.25 3/4, up 4 cents,

Jul 20 Soybeans closed at $9.38 1/4, up 3 1/4 cents,

Dec 19 Soybean Meal closed at $292.90, down $0.40

Dec 19 Soybean Oil closed at $31.88, up $0.65

--- provided by Brugler Marketing & Management

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