Soybeans

Soybean futures are down 4 to 5 3/4 cents in the front months on Thursday, with traders getting ready for Friday. Nearby soy meal is down $1.90/ton, with soy oil up 1 point. A private export sale of 135,000 MT of 18/19 soymeal to the Philippines was reported through the USDA’s daily reporting system this morning. Old crop soybean sales were shown at 421,841 MT in the week that ended on August 2, exceeding expectations. That was well above last week’s total, as net reductions to unknown (-543,500 MT) were more than offset by sales. New crop sales were slightly lower than the week prior at 532,540 MT. Soy meal sales totaled 129,512 MT, with soy oil at 10,903 MT. The average trade estimate for Friday’s WASDE report has old crop world ending stocks at 95.9 MMT, while new crop carryout is seen at 99.5 MMT. CONAB’s monthly crop report bumped their Brazilian soybean production estimate up 0.13 to 118.99 MMT, matching USDA’s July number.

Aug 18 Soybeans are at $8.88, down 5 3/4 cents,

Sep 18 Soybeans are at $8.95 1/2, down 4 1/4 cents,

Nov 18 Soybeans are at $9.06 1/4, down 4 1/4 cents,

Jan 19 Soybeans are at $9.17 3/4, down 4 cents,

Aug 18 Soybean Meal is at $335.20, down $1.90

Aug 18 Soybean Oil is at $28.46, up $0.01




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