Soybeans Showing Double Digit Gains at Midday

Soybean futures are up 9 to 11 cents in most contracts at midday, with expiring July up 6 3/4. Expiring July soybean meal is up $1/ton, with soy oil UNCH. Prior to Monday’s NOPA report, analysts expect NOPA to shows 154.405 mbu of soybeans crushed by its members in June. Soy oil stocks are seen at 1.527 billion lbs. USDA raised the average cash soybean price for 19/20 by another 15 cents to $8.40 on Thursday. Chinese imports of soybeans from all destinations during June totaled 6.51 MMT, that was a 11.5% drop from May and 25% lower than the same month last year.

JUL 19 Soybeans are at $9.03, up 6 3/4 cents,

AUG 19 Soybeans are at $9.09 1/2, up 10 1/2 cents,

SEP 19 Soybeans are at $9.15 1/4, up 10 1/4 cents,

NOV 19 Soybeans are at $9.27 3/4, up 10 1/2 cents,

JUL 19 Soybean Meal is at $312.60, up $1.00,

JUL 19 Soybean Oil is at $28.07, unch,

--provided by Brugler Marketing & Management

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