Soybean Market Mostly 2 Cents Higher

Soybean futures are mostly 2 cents per bushel higher this morning. They closed Monday with most nearby contracts 13 to 13 1/2 cents lower. August soybean meal was down $2.80/ton, with soy oil 37 points lower. Cooler forecasts and no confirmation of rumored Chinese purchases caused some selling pressure. Monday afternoon’s NASS report indicated that 40% of the US soybean crop was blooming as of 7/21 (66% avg), with 7% setting pods (28% avg). As expected, conditions were unch at 54% gd/ex and 347 on the Brugler 500index. USDA reported 559,462 MT of soybeans inspected for export during the week that ended on July 18. That was 34.6% below the week prior and down 23.17% from this week in 2018. Of that total, 317,456 MT was headed to China.

--provided by Brugler Marketing & Management




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