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Soybean futures closed the day with 14 to 16 cent losses, as August was down 6.7% since last Friday. Nearby soy meal was down $4.60/ton, with soy oil 37 points in the red. Analysts are expecting next Monday’s NOPA report to show that it’s members crushed 159.637 mbu of soybeans in June, which would be 15.6% larger than last year. Soy oil stocks are seen at 1.807 billion pounds. Thursday’s WASDE showed USDA adding another 15 mbu to 17/18 crush to a record 2.03 bbu, with 18/19 crush up 45 mbu from June at 2.045 bbu. Old crop exports were raised 20 mbu with the help of large shipments in the last several weeks. The USDA took a nickel off the 17/18 cash average price to $9.35, while dropping 75 cents off the range for 18/19 to $8-$10.50 ($9.25 mid-point). Safras & Mercado expects 2018/19 Brazilian acreage for soybeans to jump 2.3% from last year, to ~88.958 million acres, while USDA projects Brazil production at 120.5 MMT. Chinese imports of soybeans during June totaled 8.7 MMT according to customs data, down 10.1% from May. Port congestion has been an issue, with vessels seeing extended wait times to unload.

Jul 18 Soybeans closed at $8.14, down 16 cents,

Aug 18 Soybeans closed at $8.18 3/4, down 15 cents,

Sep 18 Soybeans closed at $8.24 1/2, down 14 1/2 cents,

Jan 19 Soybeans closed at $8.44 1/4, down 14 3/4 cents,

Jul 18 Soybean Meal closed at $328.80, down $4.60,

Jul 18 Soybean Oil closed at $27.80, down $0.37

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