Soybean futures are mixed heading into the long Independence Day weekend, with front months up 1 to 3 cents and new crop down 1 to 2 cents. USDA reported old crop soybean export sales at just 41,786 metric tons for the week ending June 25, a marketing-year low and well below analyst estimates of 300,000 to 650,000 metric tons. New crop sales totaled 182,533 metric tons, also below expectations but 16.89% above the same week last year. Soybean meal sales reached 413,635 metric tons, near the high end of forecasts, while soybean oil saw a net cancellation of 1,517 metric tons. The National Agricultural Statistics Service reported May soybean crush at 213.1 million bushels, slightly below trade ideas and down 2.02% from April but up 4.62% year-over-year.
Old crop export sales hit marketing-year low, well below estimates.
Soybean meal sales near high end of forecasts.
Soybean oil saw net cancellation of 1,517 metric tons.