Soybeans Post Double Digit losses on Wednesday

Soybean futures settled the day with 10 to 11 1/2 cent losses in the front months, following 7 consecutive sessions high. Soymeal was down $5.10/ton, with bean oil 4 points higher. Analysts expect USDA to show 100,000-400,000 MY in old crop soybean export sales during the week of 6/13. New crop bookings are seen at 100,000-400,000 MT. Meal sales are estimated at 100,000-400,000 MT, with soy oil sales expectations at 5,000-25,000. The national average soybean price index according to cmdtyView is $8.29 1/4, just a 1/4 cent lower than the same day last year. Their national average basis index is 16 cents weaker, however, at -76 cents.

Jul 19 Soybeans closed at $9.03 1/4, down 10 1/4 cents,

Aug 19 Soybeans closed at $9.09 1/2, down 10 3/4 cents,

Sep 19 Soybeans closed at $9.16, down 11 1/4 cents,

Jan 20 Soybeans closed at $9.41, down 11 1/4 cents,

Jul 19 Soybean Meal closed at $316.90, down $5.10,

Jul 19 Soybean Oil closed at $28.37, up $0.04

--provided by Brugler Marketing & Management

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