Soybean futures are up 1 to 3 ½ cents in the front months, with other contracts down 1 to 4 cents. Meal futures are weaker, with Sep down 30 cents. Bean oil is up 40 points.
A flash sale announcement by USDA this morning showed 132,000 MT of beans sold to China for new crop.
USDA’s weekly Export Inspections report tallied soybean shipments at 867,504 MT (31.88 mbu). That was well above the same week in 2021 and a 45.8% jump over the week prior. China was the top destination at 249,869 MT, with Germany close behind at 237,810 MT.
Northern IA, southern WI and northern IL got 2-4” rains over the weekend (72 hour totals), as the rains went further south than the GFS model had indicated on Friday. NW IA got more scattered activity. Rains were also active in MN and northern IN.
Two vessels left Ukraine ports on Sunday carrying 45,000 MT of sunflower meal for China and 6,000 MT of sunflower oil for Italy, per Reuters.
Aug 22 Soybeans are at $16.18 1/4, up 3 1/2 cents,
Nearby Cash is at $14.55 1/2, down 2 3/8 cents,
Sep 22 Soybeans are at $14.66, up 2 3/4 cents,
Jan 23 Soybeans are at $14.14 1/2, down 2 1/2 cents,
New Crop Cash is at $13.56 3/8, down 3 1/8 cents,
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