Soybeans Higher to Close Out the Week

Soybean futures posted 10 to 14 1/4 cent gains in most contracts on Friday, with August up 4.25% this week. Expiring July soybean meal was up $1.70/ton, with soy oil 4 points higher. Prior to Monday’s NOPA report, analysts expect NOPA to show 154.405 mbu of soybeans crushed by its members in June. Soy oil stocks are seen at 1.527 billion lbs. CFTC data showed spec funds in soybean futures and options adding 4,984 contracts to their net short position, at -41,934 contracts as of Tuesday. USDA raised the average cash soybean price for 19/20 by another 15 cents to $8.40 on Thursday. Chinese imports of soybeans from all destinations during June totaled 6.51 MMT, that was an 11.5% drop from May and 25% lower than the same month last year.

JUL 19 Soybeans closed at $9.06 3/4, up 10 1/2 cents,

AUG 19 Soybeans closed at $9.13 1/4, up 14 1/4 cents,

SEP 19 Soybeans closed at $9.19, up 14 cents,

NOV 19 Soybeans closed at $9.31 1/2, up 14 1/4 cents,

JUL 19 Soybean Meal closed at $313.30, up $1.70,

JUL 19 Soybean Oil closed at $28.11, up $0.04

--provided by Brugler Marketing & Management




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