Soybean Futures Extend Losses

August Soybeans are trading at 1063 3/4, down 20 cents/bushel. September Soybeans are trading at 1051 1/4, down 22 cents/bushel. November Soybeans are trading at 1041, down 21 1/4 cents/bushel. August Soymeal is trading at 369.1, down 4.1 $/ton. August Soybean Oil is trading at 30.43, down 0.24 cents/lb. Soybean futures have extended Thursday's plunge into Friday morning. Market chatter about weather is now fluid and has trading active. The USDA reported on Thursday that soybean export sales the current marketing year are 105.8 percent of the agency forecast versus the five year average of 102.3 percent. Soymeal sales are 94.5 percent of the forecast versus the five year average of 92.2 percent. Soybean oil sales are 107.1 percent of the forecast versus the five year average of 86.8 percent.