Soybeans are showing firmer trade on Thursday morning, steady to fractionally higher. Futures posted losses of 1 to 2 ½ cents across most front months on Wednesday. Preliminary open interest was up 6,299 contracts on Wednesday. The cmdtyView national average Cash Bean price was down 3 ¾ cents at $9.73 1/2. Soymeal futures were $3.40 to $6.20 lower on Wednesday, with Soy Oil futures down 11 to 33 points.
USDA’s Export Sales report is expected to show between net reductions of 200,000 MT and sales of 50,000 MT in the week ending on August 21. New crop is seen between 0.45 and 1 MMT in that week. Soybean meal sales are seen between 125,000 MT and 450,000 MT, with soybean oil sales at 0 to 14,000 MT.
