Beans Mixed Mostly Higher

Old crop soybeans are down at midday with 2 cent losses for in delivery Aug. New crop futures are trading both sides of UNCH. Meal is falling more at midday with $0.80 to $1.40 losses. Soybean oil is mixed, with gains of 10 to 13 points after August. USDA announced a large export sale of 126,000 MT of new crop soybeans to China. Soybean export sales from the week ending July 30 were 1.750 MMT (64 million bushels) split 345k old crop and 1.405 MMT for new crop. Of the new crop sales, 43% were already known via daily announcements. Of the new crop bean sales, China purchased 34% of the week’s total and holds 57% of the cumulative total commitments. Soymeal sales on the week were 328,303 MT. That was 256% above the same week last year. The 2020/21 MY meal sales were 203,858 MT. Forward bookings ahead of 2020/21 are 28% below forward bookings last MY at 761,133 MT. Soybean oil sales were 35,407 MT, split 24.1k 2019/20 and 11.1k 2020/21. Accumulated bean oil exports were up to 1.077 MMT which is 50% ahead of last year’s pace via weekly data. Official US soybean oil shipments are still the largest through June since the 2009/10 MY.

Aug 20 Soybeans are at $8.80, down 2 cents,

Sep 20 Soybeans are at $8.75 3/4, down 1/2 cent,

Nov 20 Soybeans are at $8.79 1/2, up 3/4 cent,

Jan 21 Soybeans are at $8.85 3/4, up 1/2 cent,

Aug 20 Soybean Meal is at $280.90, down $1.40

Aug 20 Soybean Oil is at $31.60, down $0.10

--- provided by Brugler Marketing & Management




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