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Soybean futures are trading 2 to 9 cents higher on the day. The front month Aug 14 contract is displaying the most strength and is up nearly a dime. Trade ideas for the USDA Weekly Export Sales report were between 900,000 MT to 1.2 MMT range. USDA put the actual figure at 1.456 MMT, with 87% of the total booked for 2014/15 delivery. Some sources were also expecting new crop soybean meal bookings as large as 500-650,000 MT, and the 14/15 bookings were reported even stronger than expected at 707,400 MT.
Aug 14 Soybeans are at $12.29 3/4, up 9 1/4 cents,
Sep 14 Soybeans are at $11.04 1/4, up 2 cents,
Nov 14 Soybeans are at $10.85 1/4, up 4 cents,
Jan 15 Soybeans are at $10.93 1/2, up 4 1/2 cents,