Soybeans are trading with Friday morning losses of 1 to 2 ½ cents Futures posted weaker trade late on Thursday, with contracts down fractionally to 4 cents across most contracts. The cmdtyView national average Cash Bean price was up 2 ¾ cents at $11.49. Soymeal futures were 40 cents to $1.20 lower across most contracts, with Soy Oil futures down 17 to 82 points. There were no deliveries issued against August soybeans or soybean oil first notice day, with 783 issued against August soybean meal.

Rain fell in parts of NE, the Dakotas, and MN overnight The next 7 days are looking for 1 to 2 inches across much of MO, WI, IA, IL, IN and OH, mainly in the next day or so.

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USDA Export Sales data was released on Thursday, with old crop soybean sales at 302,260 MT in the week of 7/23. That was a 5-week high and 10.49% above the same week last year. Egypt was the buyer of 62,700 MT, with 58,900 MT to Japan. New crop sales were tallied at 1.333 MMT. That was a 3 week low, but still well above the same week last year. China was the buyer of 519,000 MT, with unknown destinations purchasing 372,000 MT and 309,300 MT to Mexico.

Soybean meal sales were just 114,733 MT, which fell short of the estimated 200,000 to 550,000 MT range according to a Reuters survey. Bean oil sales were tallied at net cancellation of 1,099 MT, between net reductions of 10,000 to net sales of 10,000 MT.

Chinese state firm Sinograin sold 249,000 MT of the 501,000 MT of imported soybeans offered on Friday’s sale.

Aug 26 Soybeans closed at $11.77 1/4, down 3/4 cent, currently down 1 1/4 cents

Sep 26 Soybeans closed at $11.72 1/4, down 3 3/4 cents, currently down 2 3/4 cents

Nov 26 Soybeans closed at $11.88 3/4, down 4 cents, currently down 2 3/4 cents

New Crop Cash was $11.30 1/4, down 4 cents,

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

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