Soybeans saw Thursday gains of as little as ¼ cent to 7 cents in some new crop months. The cmdtyView national average Cash Bean price was up 3 1/2 cents at $9.72. Soymeal futures were up $2.10 to $2.50/ton, as Soy Oil was 23 points higher.
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.
