Soybean markets are experiencing mixed trading on Thursday, July 25, with nearby contracts down 6 ¼ cents to $10.06 while new crop is up 2 ¾ cents to $10.10. A total of 308 deliveries were made against July soybeans, and the cmdtyView national average cash price fell to $9.67 ¾, down 1 ¾ cents. Soymeal futures increased by $1.50 per ton, and soy oil rose by 4 points, with 148 deliveries of July meal contributing to a month total of 4,195.
Weekly export sales data revealed 503,027 MT of soybean sales during the week, surpassing projections of 300,000 to 600,000 MT and marking the highest total viewed since mid-March. Notably, 114,400 MT were sold to unknown destinations and 88,600 MT to Egypt. Additionally, soybean meal sales reached 578,528 MT while bean oil sales amounted to just 3,994 MT. Brazilian soybean production estimates were also updated, with CONAB reducing its forecast to 169.48 MMT.
