November Soybeans finished up 20 at 1630, 4 3/4 off the high and 35 1/2 up from the low. August Soybeans closed up 16 1/2 at 1639 1/2. This was 31 1/2 up from the low and 4 1/4 off the high.
December Soymeal closed up 8.3 at 427.5. This was 11.1 up from the low and 0.5 off the high.
December Soybean Oil finished up 1.07 at 69.45, 0.14 off the high and 1.7 up from the low.
The soybean complex saw mixed trade today. Oil was mostly lower on concern over weak export demand for both palm and soybean oil. Traders were also said to be buying meal and selling oil as well as buying wheat and selling soybeans today, although amounts traded were said to be light. Weather forecasts have pushed cool temperatures later into the weekend and reduced expectations of hot temperature extremes later next week which traders said was a negative influence on the market today along with the higher dollar. Extreme weather is generally considered less of a factor for soybeans in July than for corn. This week's Export Sales Report showed strong sales for soybeans and meal and weak sales again for oil. Net soybean sales for old crop were 465,900 tonnes with new crop sales at 176,500 tonnes. Total sales have already exceeded the USDA projection for this year and stand at 101.5% of the projected total. This compares to a 5-year average of 99.6%. In meal, net old crop sales were 158,100 tonnes with net new crop sales of just 200 tonnes. Sales of 89,300 tonnes are needed each week to reach the USDA projection. Total meal sales to date stand at 85.6% of the projected total compared to a 5-year average of 82.6%. In oil, net old crop sales were just 6,100 tonnes with zero sales again this week for new crop. Sales of 26,300 tonnes are needed each week to reach the USDA projection. Census soybean oil stocks data were released this morning. Oil stocks for the end of May came in at 2.972 billion pounds versus 2.917 billion the previous month and 3.311 billion a year ago.