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Bean Market Lower on Friday

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Soybeans are fractionally lower at midday with 2021 contracts 1 1/4 cents lower. Soybean meal futures are trading $1.80 to $2.10/ton higher so far. Soy oil futures are down 45 points in the first 3 contracts at midday. Malaysian palm oil futures are still gaining, closing the Friday session at 2,276 ringgits. Soybean export sales for 19/20 beans were 1.2 MMT and 464,000 MT for 2020/21. Soybean shipments from the report added 18.37 mbu to the 1.29 bbu total. Accumulated soybean exports were 775 of USDA’s forecast through 37 weeks of the MY. Soymeal sales were 198,820 MT, for the week ending May 14. Argentina soybean processors crushed a low 3.66 MMT of beans in April due to coronavirus issues. Syria issued an international tender for 50,000 MT of soymeal. The new tender comes after the nation made no purchases on a similar tender 10 days ago.

Jul 20 Soybeans are at $8.34 1/2, down 1/2 cent,

Aug 20 Soybeans are at $8.37 3/4, down 3/4 cent,

Sep 20 Soybeans are at $8.39 1/2, down 1/2 cent,

Nov 20 Soybeans are at $8.45, down 1/2 cent,

Jul 20 Soybean Meal is at $284.60, up $2.10

Jul 20 Soybean Oil is at $26.66, down $0.45

--- provided by Brugler Marketing & Management

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