Soybean Futures Move Up
August Soybeans are trading at 1127 1/4, up 25 cents/bushel. September Soybeans are trading at 1118, up 25 1/4 cents/bushel. November Soybeans are trading at 1111 1/2, up 24 1/2 cents/bushel. August Soymeal is trading at 390.2, up 11.5 $/ton. August Soybean Oil is trading at 31.17, up 0.36 cents/lb.
Soybean futures are trading very choppy and some early session gains have eroded. Trading is rangebound.
Market chatter about Midwest weather and potential impacts to soybean yields is ongoing. There is chatter showing up that a couple weeks of hot and dry weather at this time of the year could have an adverse impact on soybean yield potential.
During June China imported 7.56 million tonnes of soybeans versus 7.66 million tonnes in May. China's vegetable oil imports totaled 310,000 tonnes, up 10.7 percent.
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