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Soybean futures ended with losses of around 22 cents. There was 76% of the US soybean crop with blooms as of Sunday night according to this afternoon’s USDA Crop Progress report. This was up 10 points from the previous 5 year average. Pod set is 9 points ahead of schedule, at 35% complete. The 18-state average crop condition rating was pegged at 377 on our Brugler500 Index, up 1 point from last week. Conditions were generally expected to decline per pre-report surveys. Export Inspections totaled 700,715 MT during the week ending July 21. This was up 75% from the previous week, and nearly 6 times as large as the same week last year. Through July 21, marketing year to date inspections are 5.6% behind last year, as weekly inspections have been larger than last year for three consecutive weeks.
Aug 16 Soybeans settled at $9.83 3/4, down 22 3/4 cents,
Sep 16 Soybeans settled at $9.76 3/4, down 22 cents,
Nov 16 Soybeans settled at $9.66 1/4, down 22 cents,
Jan 17 Soybeans settled at $9.67, down 22 1/4 cents,
Aug 16 Soybean Meal settled at $338.90, down $7.80,