Soybeans are showing mixed action on Thursday, with nearbys lower and new crop up 2 ¾ cents. There were 308 deliveries against July soybeans overnight. The cmdtyView national average Cash Bean price was down 1 ¾ cents at $9.67 ¾. Soymeal futures are up $1.50/ton, as Soy Oil is 4 points higher. There were 148 deliveries issued for July meal overnight, with the month’s total at 4,195.
Weekly Export Sales data from this morning indicated 503,027 MT of soybean sales in the week of July, within trade ideas of 300,000 to 600,000 MT. That was the largest total since mid-March and more than triple the same week last year. Unknown destinations was the buyer of 114,400 MT, with 88,600 MT sold to Egypt. New crop business was also in the range of 50,000 to 400,000 MT estimates at 248,400 MT. That was the second highest total for the marketing year.
