After showing overnight weakness, soybeans are up anywhere from 15 to 30 cents on Thursday’s midday. Meal is a large supporting factor, up $13.80/ton in the July contract. Soybean oil is a drag on the market, down 82 points.
Thursday’s Export Sales report tallied old crop bean bookings at 752,689 MT, well above last week and above the trade rang of estimates. New crop booking were nearly double the previous week at 149,500 MT. Soybean meal sales totaled 293,172 MT in the week of 5/12, with soybean oil at a net reduction of 495 MT.
Jul 22 Soybeans are at $16.92 1/4, up 29 1/2 cents,
Nearby Cash is at $16.61 5/8, up 29 1/8 cents,
Aug 22 Soybeans are at $16.32 1/2, up 25 1/2 cents,
Nov 22 Soybeans are at $15.16 1/2, up 17 cents,
New Crop Cash is at $14.72 1/2, up 17 cents,
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