Soybeans Lower on Thursday

Soybeans futures were down 4 1/4 to 4 3/4 cents per bushel in the front months on Thursday. Meal futures ended lower by $1/ton and soy oil was down 20 points. The weekly Export Sales report indicated net sales of 25,936 MT for old crop soybeans for the week ending 8/15. Germany was the main buyer of 68,500 MT, with unknown destinations cancelling or deferring a net 169,000 MT. New Crop sales beat out the top end of estimates at 792,575 MT, a 3% reduction from last week and 38% above the same week last year. Of this, 421,000 is set for unknown destinations. China officially purchased 9,589 MT in old crop and 66,000 MT for delivery next MY. The ProFarmer Midwest Crop Tour rounded out the last leg in MN and IA on Thursday.

SEP 19 Soybeans closed at $8.56, down 4 1/2 cents,

NOV 19 Soybeans closed at $8.68 3/4, down 4 1/4 cents,

JAN 19 Soybeans closed at $8.82 1/2, down 4 1/4 cents,

MAR 20 Soybeans closed at $8.95 1/2, down 4 3/4 cents,

SEP 19 Soybean Meal closed at $293.70, down $1.00,

SEP 19 Soybean Oil closed at $28.54, down $0.20

--- provided by Brugler Marketing & Management




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