Soybeans are trading with early Thursday losses of 11 to 12 cents so far. Futures saw marginal gains of 2 to 3 ¼ cents in most contracts on Wednesday, with most contracts fading the USDA export sale announcement, 6 to 8 cents off the highs. Open interest suggested a rotation of ownership, up just 874 contracts. The cmdtyView national average Cash Bean price was up 1 3/4 cents at $10.79. Soymeal futures were steady to down $1.10, with Soy Oil futures falling another 77 to 138 points. The market will round out the week today, with Friday off in observance of Juneteenth.
USDA reported 372,000 MT of soybeans to unknown destinations on Wednesday morning with 60,000 MT for old crop an 312,000 MT for new crop shipment.
