Soybeans

Soybean futures posted sharp 15 to 19 cent losses in the front months on Wednesday. The rest of the soy complex also saw weakness. Soy meal was down $5.70/ton, with front month soy oil 53 points lower. The 5 day QPF shows precipitation chances for rains this week with a majority of it in NE and IA and lighter totals in the ECB. Recent weakness in the Real vs. a stronger US dollar has cheapened Brazilian soybeans on the world market. China is in the US this week to try and come up with a solution on the recent trade issues. USDA Soybean export sales of old crop are expected to be shown at 300,000-600,000 MT on Thursday, with new crop at 100,000-400,000 MT. Soy meal sales are seen at 100,000-300,000 MT, as 10,000-40,000 MT is estimated for soy oil.

Jul 18 Soybeans closed at $9.99 3/4, down 19 cents,

Aug 18 Soybeans closed at $10.03 1/4, down 18 3/4 cents,

Sep 18 Soybeans closed at $10.05 3/4, down 17 cents,

Jan 19 Soybeans closed at $10.13, down 15 1/2 cents,

Jul 18 Soybean Meal closed at $376.60, down $5.70,

Jul 18 Soybean Oil closed at $30.59, down $0.53




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