Soybean Futures Trading Lower

September Soybeans are trading at 984,down 9 1/4 cents/bushel. November Soybeans are trading at 970, down 8 cents/bushel. December Soymeal is trading at 337.7, down 3.1 $/ton. September Soybean Oil is trading at 29.53, down 0.11 cents/lb. Soybean futures are trading near the lows of the day. The USDA reported on Thursday that soybean export sales for the current marketing year as of July 21st are now 106.4 percent of the USDA forecast versus the five year average of 102.8 percent. New crop sales are 18.8 percent of agency forecast versus the five year average of 31.5 percent. Soymeal sales are 96.7 percent of the agency forecast versus the five year average of 94.6 percent.