Soy Market Stronger on Thursday
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The domestic soy market continued higher on Thursday. Soybean futures closed 4 1/2 to 9 1/4 cents in the black. For the month to date May beans are still 25 3/4 cents lower, but new crop November is a penny stronger. Soymeal futures closed the Thursday session with $2.60 to $3.70 gains. BO futures were up 57 to 65 points on the day.

NOPA members reported processing 177.984 mbu in March. That was slightly below the average of pre report estimates. That is the second consecutive crush that was lower yr/yr, combining for 14.5 mbu for Feb and March. MYTD crush however is still a record pace, exceeding 19/20 by 36 mbu. Soy oil stocks were reported at 1.771b lbs, compared to the average guess of 1.822b lbs.

Net soybean sales reported in the weekly Export Sales report were 90,448 MT. Indonesia was the top buyer, and the report included 65,000 MT of cancelations from China. For new crop, bean sales were 265,544 MT bringing the total forward sale to 5.26 MMT. That is 5.6% ahead of forward sales for this season’s record program. Meal bookings were reported at 71,525 MT for 2020/21 delivery, and 26,206 MT for 21/22. For bean oil, USDA reported net cancelations of 1,458 MT.  

May 21 Soybeans  closed at $14.18 1/4, up 8 1/4 cents,

Jul 21 Soybeans  closed at $14.11, up 8 3/4 cents,

Nearby Cash was $13.97 5/6, up 9 1/8 cents,

Nov 21 Soybeans  closed at $12.69, up 5 cents,

New Crop Cash was $12.19 1/2, up 5 3/8 cents,




<p>Market Commentary provided by:<br /> <img src="https://s3.amazonaws.com/images1.aws.barchart.com/logos/bruglerlogo.gif" border="0" /><br /> Brugler Marketing &amp; Management LLC<br /> 1908 N. 203rd St.Omaha, NE 68022<br /> Phone: 402-697-3623<br /> Fax: 402-289-2353<br /> E-mail: <a href="mailto:alanb@bruglermktg.com">alanb@bruglermktg.com</a><br /> Web: <a href="http://bruglermarketing.com/">http://bruglermarketing.com</a></p> <p align="center"><!-- [if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:TrackMoves/> <w:TrackFormatting/> <w:PunctuationKerning/> <w:ValidateAgainstSchemas/> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> <w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText> <w:DoNotPromoteQF/> <w:LidThemeOther>EN-US</w:LidThemeOther> <w:LidThemeAsian>X-NONE</w:LidThemeAsian> <w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript> <w:Compatibility> <w:BreakWrappedTables/> 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