Soybean futures are steady in the back months to 2 1/4 cents lower in the nearby contracts. Soy meal is down $1.40/ton, with front month soy oil up 57 points. The USDA reported a private export sale of 132,000 MT to unknown destinations this morning. Export sales of old crop soybeans in the week that ended 5/10 totaled 281,850 MT, just short of analysts’ estimates. That was down 20.4% from last week and 12.9% lower than this week in 2017. Unknown destinations reported 224,500 MT in reduction, as a majority was switched to a destinations. New crop sales were tallied at 224,650 MT. Soy meal sales were reported at 375,960 MT for 17/18 and 45,666 MT for 18/19. Sales of soy oil were shown at 10,185 MT.

Jul 18 Soybeans are at $9.97 1/2, down 2 1/4 cents,

Aug 18 Soybeans are at $10.01 1/2, down 1 3/4 cents,

Sep 18 Soybeans are at $10.04, down 1 3/4 cents,

Nov 18 Soybeans are at $10.08 1/2, down 1/2 cent,

Jul 18 Soybean Meal is at $375.20, down $1.40

Jul 18 Soybean Oil is at $31.16, up $0.57

Market Commentary provided by:

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