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soy-oilseeds

Oilseed Highlights: Brazil’s Soybeans; U.S. Census Soymeal Data Revision; U.S. Soy Plantings; WASDE Soy Changes

Conab Reduces Brazilian Soybean Crop Estimate Conab, Brazil’s crop supply agency, today reduced its estimate for the country’s 2019 soybean crop by 1.6 percent from 115.343 MMT to 113.459 MMT. This change is based on an average yield of 3.168 MT/hectare (47.1 bushels/acre). Conab also lowered its forecast for Brazil’s soybean exports in its MY 2019/20 from 71.5 MMT to 70 MMT and pegged the previous marketing year total at 83.605 MMT. Brazil’s soybeans harvest is about 57 percent complete. Approximately 95 percent of the soybeans have been harvested in Mato Grosso versus only 8 percent in Rio Grande do Sul. In some states that have had persistent recent rainfall (e.g., Minas Gerais), farmers indicate there have been...

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Summary of Futures

May 19 Corn closed at $3.4675/bushel, down $0.045 from yesterday's close.  Jul 19 Wheat closed at $4.385/bushel, down $0.065 from yesterday's close.  May 19 Soybeans closed at $8.5525/bushel, down $0.0675 from yesterday's close.  May 19 Soymeal closed at $300.4/short ton, down $0...

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