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CBOT soybean futures closed modestly higher on July 30 after USDA reported weekly export sales of 3.6 million tonnes for the week ended July 23, above trade estimates of 1.8 to 2.5 million. Benign US crop weather capped gains, and Reuters polling expects a record Brazilian soybean crop above 130 million tonnes in 2020-21.
Stronger-than-expected export sales support old and new crop soybean demand, but a big Brazilian crop and good US weather limit upside. Soymeal and soyoil prices were also firm, so the net effect is modestly bullish for soy complex prices.
brecorder.comReutersJul 30, 2020Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
