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Soybean futures closed the day with 4 1/4 to 7 1/4 cent gains, on pre-weekend profit taking. Aug soy meal was up $3.90/ton, with nearby bean oil 21 points lower. The August contracts will expire on Monday. The USDA announced a private soybean export sale of 120,000 MT to China, with 60,000 for both 16/17 and 17/18 delivery through their daily reporting system. The FSA showed 436,610 acres were reported for prevent plant as of August 1, up 84.18% from last year’s 237,057 acres. The annual US corn and soybean road tour will start on August 21 and run until August 24. New crop exports were updated to 2.225 bbu, up 75 mbu, with crushing down 10 mbu. The USDA also dropped their average farm price projection 10 cents to $9.30 with a range of $8.45-$10.15. The weekly COT report indicated managed money lowering their net long position by 26,882 contracts, as their net position reported for August 8 was +12,913 contracts in soybean futures and options.

Aug 17 Soybeans closed at $9.35 1/2, up 4 3/4 cents,

Sep 17 Soybeans closed at $9.38 1/4, up 4 1/4 cents,

Nov 17 Soybeans closed at $9.45, up 4 3/4 cents,

Mar 18 Soybeans closed at $9.62, up 5 1/4 cents,

Aug 17 Soybean Meal closed at $298.10, up $3.90,

Aug 17 Soybean Oil closed at $33.53, down $0.21

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