Soybeans are showing some early week strength, with futures are up 5 to 8 cents. There were another 5 deliveries issued for August soybeans overnight. The cmdtyView national average Cash Bean price was up 5 3/4 cents at $9.37 ½. Soymeal futures are showing gains of $2.40 to $3.70/ton. Soy Oil futures are mixed, with futures down 13 to 30 points higher. Another 492 contracts were issued for August meal, with 218 issued for August beans, all by CHS.
USDA tallied soybean export shipments at 612,539 MT (22.51 mbu) during the week ending on July 31, the highest since April. That was up 43.2% from last week, 67% above the same week last year and a 6-year high for that week. Of that total, 119,658 MT was headed to Germany, with 113,808 MT on its way to Egypt and 92,208 MT to Mexico. Marketing year exports have totaled 47.83 MMT (1.758 bbu), which is 10.9% above the same period last year.
