Soybean Oil Sep '17 (ZLU17)

Soybeans pushed lower into Thursday’s close, as contracts settled with losses of 6 ¾ to 15 ¼ cents on the day, led by the nearbys. Soymeal was down 70 cents to $3.0 at the closing bell. Soy Oil was down another 22 to 90 points on the day.  

Export Sales data tallied the weekly soybean sales in the week that ended on April 11 at 485,795 MT. That was in the middle of the 300,000-650,000 MT trade estimates and a 4-week high. China purchased 131,000 MT, with 84,500 MT sold to Mexico. The new crop was 263,200 MT, a MY high for the 24/25 total. 

USDA reported a private export sale of 138,000 MT of soybean meal to the Philippines this morning. The weekly report showed soy meal sales on the low end of the 100,000 to 400,0000 MT estimates at a total of 129,789 MT, with bean oil reported at just 140 MT. 

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