Mixed Soy Action Into Friday Day Session

Soybean prices are fractionally mixed into the day portion of Friday trade. The front month soybean futures market closed with 26 1/2 to 33 1/2 cent losses on the day. For November that set a new low to the lowest since January of below $13/bu. The contract did get back above that mark for the close. Meal prices ended the session $2.10 to $5.60 in the red. BO futures fell triple digits with 143 to 165 point losses. 

USDA’s weekly Export Sales report had 203,500 MT of old crop beans sold during the week of 7/14. That was above estimates and led by China. China also led new crop purchases with 136k MT of the 254k MT total. Total forward sales to all destinations is 14.1 MMT, with nearly half for China. Weekly bean shipments were 499,900 MT, bringing the accumulated total to 52.973 MMT. 

For the products, USDA reported 109,300 MT of soymeal sales. That was as expected, though 27,600 MT were sold for 22/23 delivery. Traders weren’t expecting more than 150k MT. Soybean oil sales were 600 MT for 21/22 with no forward bookings reported. 

Aug 22 Soybeans  closed at $14.18 1/2, down 30 1/2 cents, currently up 1/4 cent

Nearby Cash  was $14.36 1/4, down 37 1/8 cents,

Sep 22 Soybeans  closed at $13.17, down 33 1/2 cents, currently UNCH

Nov 22 Soybeans  closed at $13.01 1/2, down 30 3/4 cents, currently down 3/4 cent

New Crop Cash  was $12.51 1/2, down 31 1/8 cents,