Wednesday trading left soybean futures 3/4 to 3 1/2 cents lower in the front months. August closed at $8.82/bu with 7 trading days left. So far, there have been no deliveries against them. There were 291 deliveries against August soymeal, month to date, and MTD bean oil issues was at 764 contracts. Meal closed the day $1.10 to $1.40 lower. Soybean oil closed 10 to 17 points higher. USDA announced this morning that private exporters sold 192,000 MT of soybeans to China for 2020/21 delivery. Official US soybean exports in June were 1.8 MMT. That was 9% lower than May and down by 45% from June ’19. Meal exports were up 7.8% from May with 1.07 MMT shipped. Bean oil exports were the second lowest in the MY at 76,052 MT. MYTD oil shipments are still the largest through June since the 2009/10 MY. Traders estimate weekly bean bookings between 200k and 550k MT ahead of the Export Sales report. New crop soybean sales are estimated between 0.6 and 1.2 MMT. Egypt issued an international tender for soy oil.

--- provided by Brugler Marketing & Management