Soybeans were steady to a penny higher across the front month on Thursday, shrugging off the midday weakness. The cmdtyView national average Cash Bean price was down 1/4 cent at $9.73 1/4. Soymeal futures were down 20 cent to$1.40 on Thursday, with September falling $6.80 as we enter first notice day on Friday. Soy Oil futures were 56 to 77 points lower.
Export Sales data tallied 189,184 MT in old crop net reductions in the week ending on August 21 on the lower side of estimate calling for net reductions of 200,000 MT to sales of 50,000 MT. Many of the reported sales were switched from a previous unknown destination. New crop sales were tallied at a MY high and exceeded the trade ideas of between 0.45 and 1 MMT at 1.373 MMT. That was 20.1% above last week. Unknown destinations was the largest buyer of 690,000 MT, with 315,800 MT sold to Mexican buyers.
