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Brugler Marketing and Management, LLC - BRUG - Tue Aug 21, 4:52PM CDT

Soybean futures saw losses of 6 to 7 1/4 cents in the front months. Nearby soy meal was down $3.30/ton, with soy oil 5 points higher. The USDA, through their daily reporting system, indicated that 250,000 MT of 2018/19 soy meal was sold to unknown destinations. Results from Monday’s leg for the Pro Framer Tour in OH and SD show soybean pod counts above average for those areas. This week’s USDA Crop Progress report indicated all of the 18 reported states maturing at a faster pace than the average except MI. Condition ratings in IA were down 4, with MN 11 points lower, SD down 12 and ND 18 lower. Most of the other major states showed steady or slightly better ratings. A Reuters poll of analysts estimates that Brazilian soybean producers will plant 89.65 million acres for the 2018/19 MY.

Sep 18 Soybeans closed at $8.74 1/2, down 7 1/4 cents,

Nov 18 Soybeans closed at $8.86, down 7 1/4 cents,

Jan 19 Soybeans closed at $8.98 3/4, down 7 cents,

May 19 Soybeans closed at $9.21, down 6 1/4 cents,

Sep 18 Soybean Meal closed at $324.90, down $3.30,

Sep 18 Soybean Oil closed at $28.59, up $0.05

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