Soybean trading saw a slight downturn early Thursday, with prices lowering by 1 to 2 cents, while August futures increased by 2 cents. On Wednesday, futures recorded losses of 2 to 3.5 cents across most contracts, resulting in a drop of 14,512 contracts in preliminary open interest. The cmdtyView national average cash bean price was reported at $11.29. Soymeal futures decreased by $1.30 to $2.80, and bean oil fell by 22 to 48 points.
The USDA is set to release its weekly Export Sales report, with analysts predicting sales of 100,000 to 400,000 metric tons for the 2025/26 period during the week of July 30. The new crop is expected to see sales ranging from 0.9 to 1.55 million metric tons, while soybean meal sales are forecasted between 200,000 to 500,000 metric tons. Additionally, Chinese auction results revealed that Sinograin sold 334,000 metric tons of imported soybeans at an average price of $594.84 per metric ton.
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