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Soybean Close Lower on Trade Threats
BRUG - Fri Aug 23, 5:09PM CDT

Soybeans futures finished Friday’s trade session 10 1/4 to 12 3/4 cents lower. Meal futures were down $3.80/ton, with soy oil down 20 points. China announced a 5% increase to the tariffs on US soybeans, taking them to 30% starting on Sept. 1. President Trump responded to the tariff increase by adding 5% to tariffs on the $250 billion already in place to 30% on Oct 1 and taking the tariffs on $300 of Chinese goods from 10% to 15% on Sept 1. The Pro Farmer Midwest Crop Tour final report estimated total soybean production at 3.497 bbu on an average yield of 46.1 bpa. Soybean speculators increased their net short positions by 5,982 contracts to 72,432 contracts on August 20.

SEP 19 Soybeans closed at $8.43 1/4, down 12 3/4 cents,

NOV 19 Soybeans closed at $8.56 1/2, down 12 1/4 cents,

JAN 19 Soybeans closed at $8.71 1/4, down 11 1/4 cents,

MAR 20 Soybeans closed at $8.85 1/4, down 10 1/4 cents,

SEP 19 Soybean Meal closed at $289.90, down $3.80,

SEP 19 Soybean Oil closed at $28.34, down $0.20

--- provided by Brugler Marketing & Management

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