Soybean Futures Trading Higher

August Soybeans are trading at 993 3/4, up 10 cents/bushel. September Soybeans are trading at 9851/4, up 8 1/2 cents/bushel. November Soybeans are trading at 974, up 7 3/4 cents/bushel. December Soymeal is trading at 336.5, up 2.0 $/ton. September Soybean Oil is trading at 29.91, up 0.34 cents/lb. Soybean futures are trading moderately choppy early Tuesday morning. Market talk about weather forecasts for August is making the rounds. The weekly soybean crop condition report showed 71 percent of the crop was rated good to excellent versus 71 percent a week ago and 62 percent a year ago. The ten year average at this time of year is 60 percent. The USDA reported on Monday that soybean export inspections for the current marketing year as of July 21st are now 91.6 percent of the agency forecast versus the five year average of 96.2 percent.