Soybean Futures Trading Higher
August Soybeans are trading at 1094, up 10 3/4 cents/bushel. September Soybeans are trading at 1080, up 11 1/2 cents/bushel. November Soybeans are trading at 1069, up 11 1/4 cents/bushel. August Soymeal is trading at 383.3, up 7.0 $/ton. August Soybean Oil is trading at 30.59, up 0.24 cents/lb.
Market chatter about weather forecasts for rest of the summer is making the rounds.
The USDA reported on Friday that soybean export sales for the current marketing year as of June 30th are now 107.1 percent of the agency forecast versus the five year average of 102.0 percent. Soymeal sales are at 93.2 percent of the forecast versus the five year average of 91.2 percent and soybean oil sales are 106.5 percent of the forecast versus the five year average of 85.7 percent.
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