Soybean Futures Trading Lower

September Soybeans are trading at 995, down 6 1/4 cents/bushel. November Soybeans are trading at 978, down 6 1/2 cents/bushel. December Soymeal is trading at 329.1, down 3.3 $/ton. September Soybean Oil is trading at 31.10, up 0.09 cents/lb. Soybean futures are trading just above the session lows. The USDA weekly soybean crop conditions report showed 72 percent of the crop was rated good to excellent versus 72 percent last week and 63 percent a year ago. The ten year average at this time of year is 59 percent. The USDA reported on Monday that soybean export inspections as of August 4th are now 94.9 percent of the USDA forecast versus the five year average of 97.1 percent.