# CBOT soybeans close modestly higher on export sales data - Markets - Business Recorder

> 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.

- Date: 2020-07-30 · published 2020-07-30T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/52158-cbot-soybeans-close-modestly-higher-on-export-sales-data-markets-business
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

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.

## Read by commodity

- SBM: bullish ▲
- SBO: bullish ▲
- SOY: bullish ▲

## Sources

- brecorder.com: https://www.brecorder.com/news/40008992

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.