Soybean Futures Mostly 1 to 2 Cents Lower
Alan Brugler - Barchart - Fri Aug 07, 12:26PM UTC

Soybean futures are mostly 2 cents per bushel lower this morning. On Thursday bean futures closed down by as much as 1 1/2 cents with losses fading through the back months. Soymeal futures were $1.50 to $1.60 lower on Thursday. Bean oil futures closed the day lower in August but higher in Sept and Oct. Soybean export sales from the week ending July 30 were 1.750 MMT (64 million bushels) split 345k old crop and 1.405 MMT for new crop. Of the new crop sales, 43% were already known via daily announcements. Analysts surveyed ahead of USDA’s reports next week estimate bean yield will be 51.2 bpa. That would be up 1.4 bpa from the July estimate if realized. That higher yield estimate pushed the average production estimate to 4.26 bbu, which would be up 124.5 mbu.

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