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Soybean futures posted double digit gains on talk of potential yield reductions due to SDS, but faded in the last 15 minutes of trading. The delivery squeeze situation continues to unwind for the September beans and bean meal. A number of private estimates are expected to come out between now and Friday, with the USDA report on September 11. Weekly export inspections 37,381 MT, significantly lower than last week.Year to date export inspections are 21.5% bigger than they were a year ago, with 3 days left to report.After the close, USDA indicated that 5% of the crop is to the leaf drop stage, vs. the 5 year average of 7%. Condition ratings are now record high for this date, with the Brugler500 rising 4 points to 383.
Sep 14 Soybeans closed at $10.97 1/4, up 7 3/4 cents,
Nov 14 Soybeans closed at $10.32, up 7 3/4 cents,
Jan 15 Soybeans closed at $10.39 3/4, up 7 1/4 cents,