Soybeans are down 5 t 7 ¼ cents across most contracts at midday. There were 349 deliveries issued against August beans by the Bunge house account for first notice day. The cmdtyView national average Cash Bean price is down 9 1/4 cents at $9.21 ¾. Soymeal futures are showing gains of $1.20 to $1.30/ton, with Soy Oil posting losses of 83 to 120 points. The CME delivery report showed 1,026 issued for August soybean meal and 84 for August soybean oil on FND.
Export Sales data from USDA this morning showed 349,164 MT in old crop soybean business, exceeding estimates of 100,000 to 300,000 MT for the week ending on July 24. That was a 3-week high and still exceeds the same week last year. New crop sales totaled 429,457 MT, which was in the middle of analysts looking for between 100,000 to 600,000 MT. That was back up from the week prior, though China has yet to show up.
