The soy complex was higher in beans and meal, but oil closed lower. Front month soybean futures closed the session with gains of as much as 6 1/4 cents led by in delivery August. The other front months were 4 3/4 to 5 3/4 cents higher. Meal futures were up by $2.2 to $2.5 at the closing bell. Ahead of Friday’s expiration, there have been 1,122 contracts of August meal delivered against futures. MTD soybean oil deliveries sit at 764 contracts. There have still been zero deliveries vs. August beans. Bean oil futures closed on Monday with 7 to 16 point losses. USDA announced three large new crop bean export sales this morning. Private exporters reported sales of 111,000 MT to unknown, 324,000 MT to China, and another 264,000 MT to China in delayed reporting. The weekly Export Inspections report from USDA showed that 23.4 mbu of soybeans were shipped on the week ending Aug 6. That was up 14% wk/wk but down by 11% from the same week of 19/20. The Crop Progress report showed that 75% of new crop beans were setting pods. That was up from 59% last week, and was 7% ahead of average. Conditions improved on the week, up 4 points on the Brugler500 index to 385.

--- provided by Brugler Marketing & Management