Market Overview

Soybeans Little Higher


Soybean futures are trading a little higher Thursday morning. July Soybeans are trading at 991 1/2, up 3 1/2 cents. July Soybean Oil is trading at 31.85, up 0.21. July Soymeal is trading at 322.6, up 0.2. November Soybeans are trading at 965 1/4, up 3 1/2 cents. Trading is expected to be choppy.

The USDA will release export sales data today, estimates are near 550,000 tons for soybeans. Soymeal Meal sales are estimated to be 200,000 tons. Chatter about demand from China and lingering concerns that Argentina port issues could inhibit shipments has been supportive. Argentina's boat captains are threatening to slow shipments over a dispute about wages. Market talk that China's soybean plantings may be down 15 percent this year has some traders looking for better demand down the road.

Posted-In: soybeansFutures Commodities Markets


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