Soybeans

Soybean futures settled with 6 to 7 cent losses on the day, as traders were getting ready for Friday. Nearby soy meal was down $3.10/ton, with soy oil 3 points lower. Old crop soybean export sales totaled 421,841 MT in the week that ended on August 2, as new crop sales were at 532,540 MT. Soybean exports were well above the normal pace for this time of the year at 1.016 MMT. 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 closed at $8.87 3/4, down 6 cents,

Sep 18 Soybeans closed at $8.93, down 6 3/4 cents,

Nov 18 Soybeans closed at $9.04, down 6 1/2 cents,

Mar 19 Soybeans closed at $9.25, down 6 1/4 cents,

Aug 18 Soybean Meal closed at $334.00, down $3.10,

Aug 18 Soybean Oil closed at $28.42, down $0.03




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