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Soybean futures ended Thursday trade with most contracts about 4 cents higher, but 6 or 7 cents below session highs. Bean oil futures were higher, but meal futures were slightly lower. Weekly export sales figures published by USDA this morning were 1.76 MMT; higher than the range of published expectations from the trade. Meal was 88,800 MT and soy oil was only 3,400 MT. Both meal and oil sales were within trade expectations, but towards the lower end. Private exporters reported another 120,000 MT booked for delivery to China. Most traders are squaring up for the quarterly Grain Stocks report tomorrow morning at 11AM CDT. The average pre-report trade guess is expecting a 5 mbu increase from the ending stocks estimate in the September 12 crop reports.
Nov 16 Soybeans settled at $9.50 1/4, up 4 3/4 cents,
Jan 17 Soybeans settled at $9.56 1/4, up 4 1/4 cents,
Mar 17 Soybeans settled at $9.63, up 4 3/4 cents,
May 17 Soybeans settled at $9.69 1/2, up 4 3/4 cents,
Oct 16 Soybean Meal settled at $297.90, down $1.80,