Soybeans Up Double Digits on Thursday

Soybean futures are showing double digit gains in most contracts at midday. Soymeal is up $6.30/ton, with bean oil 24 points higher. A private export sale of 189,000 MT of soybeans were reported to unknown destinations by the USDA this morning. The sale was spilt between 18/19 (126,000 MT) and 19/20 (63,000 MT). This morning’s Export Sales report showed old crop soybean bookings above the top end of estimates at 571,512 MT. That was an 8-week high and more than double the same week last year. New crop sales totaled 200,027 MT in the week of June 13. Meal sales were tallied at 147,328 MT, with soy oil sales at 4,435 MT.

Jul 19 Soybeans are at $9.16 3/4, up 13 1/2 cents,

Aug 19 Soybeans are at $9.22 3/4, up 13 1/4 cents,

Sep 19 Soybeans are at $9.29, up 13 cents,

Nov 19 Soybeans are at $9.42, up 13 1/4 cents,

Jul 19 Soybean Meal is at $323.20, up $6.30

Jul 19 Soybean Oil is at $28.61, up $0.24

--provided by Brugler Marketing & Management

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