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Soybean futures settled mixed on Wednesday afternoon with November down 1 1/2 cents and August up 8 1/4 cents. August bean meal futures were $4.80/ton higher. Tomorrow is first notice day for August futures deliveries. Much of the trade will be watching the weekly export sales report on Thursday morning. Industry estimates ahead of the report are for combined old and new crop sales to be anywhere between 370,000 MT and 1.25 MMT. Soybean meal bookings are expected to be somewhere between 50,000 and 220,000 MT. Month end asset allocation adjustments will play more of a role the next couple days. The Argentine Agricultural Ministry reported that a record 18.5 MMT of soybeans was crushed in Argentine plants from January through June. Soy oil production reached 3.6 MT, and meal was 13.9 MT. South Korea tendered for 60 TM of US/S. America soy meal for November delivery.
Aug 15 Soybeans closed at $9.83, up 8 1/4 cents,
Sep 15 Soybeans closed at $9.57, up 3 cents,
Nov 15 Soybeans closed at $9.43 1/4, down 1 1/2 cents,
Jan 16 Soybeans closed at $9.48 3/4, down 2 cents,