Soybean futures are mostly 3 to 4 cents in the green on Friday, on a little profit taking before the weekend. The expiring Aug soy meal is up $3.30/ton, with nearby bean oil 19 points lower. The USDA announced a private soybean export sale of 120,000 MT to China, with 60,000 for both 16/17 and 17/18 delivery through their daily reporting system. The FSA showed 436,610 acres were reported for prevent plant as of August 1, up 84.18% from last year’s 237,057 acres. The annual US corn and soybean road tour will start on August 21 and run until August 24. New crop exports were updated to 2.225 bbu, up 75 mbu, with crushing down 10 mbu. The USDA also dropped their average farm price projection 10 cents to $9.30 with a range of $8.45-$10.15.

Aug 17 Soybeans are at $9.34 1/2, up 3 3/4 cents,

Sep 17 Soybeans are at $9.37, up 3 cents,

Nov 17 Soybeans are at $9.44 1/4, up 4 cents,

Jan 18 Soybeans are at $9.53, up 4 cents,

Aug 17 Soybean Meal is at $297.30, up $3.10

Aug 17 Soybean Oil is at $33.62, down $0.12

Market Commentary provided by:

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