Soybeans are showing some midday gains as meal pushes higher, with bean futures up 4 to 5 cents. The cmdtyView national average Cash Bean price is up 4 cents at $9.71 1/4. Soymeal futures are up another $2.80 to $6.60, with Soy Oil futures down 24 to 26 points on the day.
Export Sales estimates are looking for between net reductions of 300,000 MT to sales of 300,000 MT for old crop bean business in the week ending on August 14. New crop sales are expected to land between 0.4 and 1 MMT. Soybean meal sales are estimated at net reduction of 50,000 MT to sales of 450,000 MT, with bean oil seen between net cancellations of 10,000 and 15,000 MT in sales.
