On Thursday morning, soybean futures are showing mixed activity after experiencing losses of 13.5 to 34 cents on Wednesday. The new national average cash bean price is reported at $11.46 ¼, down 31.75 cents. The USDA is set to release export data today, with projections for the week ending July 23 anticipating net bean sales between a reduction of 200,000 to an increase of 300,000 metric tons (MT).
Additional expectations for soybean meal sales are estimated between 200,000 to 550,000 MT, alongside a forecast for net reductions of 10,000 MT for soybean oil sales. Open interest for soybeans dropped by 10,939 contracts, particularly impacting the August futures ahead of the first notice day on Friday.
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