Soybeans Heading into the Long Weekend with Mixed Trade

Soybeans edged higher early Thursday, with front-month contracts up 1 to 3 cents, while near-crop futures were down 1 to 2 cents. Overnight trading showed 30 deliveries against July soybeans. The cmdtyView national average Cash Bean price rose 2 cents to $10.87 1/4, and soymeal futures were steady to $1.20 higher, while soybean oil futures were mixed. Ahead of the July 4 Independence Day holiday, the market will close for a 3-day weekend with a normal open on Sunday night. The USDA Export Sales report showed 41,786 MT of old-crop sales for the week of 6/25, below analysts’ 300,000 to 650,000 MT expectations, and also new-crop sales of 182,533 MT versus forecast 350,000 to 900,000 MT. Crush in May totaled 213.1 mbu, below 214.9 mbu expected. Jul 26 beans were at $11.29.