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Soybeans Finish Slightly Higher Tuesday

Fresh Soybean Sales Recorded Tuesday.

DES MOINES, Iowa -- On Tuesday, the CME Group soybean market closed higher, with new sales reported for the ninth trading session in a row. The trade eyes what’s expected to be a bearish USDA August Crop Production Report Friday.

At the close, the September corn futures settled 3¢ lower at $3.22; December futures finished 2¼¢ lower at $3.32½ per bushel.

September soybean futures closed 3¾¢ higher at $10.05, while November soybean futures closed 3¢ higher at $9.88.

September wheat futures closed unchanged at $4.17.

September soy meal futures closed $0.40 per short ton higher at $336.30. September soy oil futures closed 0.23¢ higher at 31.24¢ per pound. 

In the outside markets, the Brent crude oil market is $0.29 per barrel lower, the U.S. dollar is lower, and the Dow Jones Industrials are 15 points lower.

Private exporters reported to the U.S. Department of Agriculture export sales of 120,000 metric tons of soybeans for delivery to unknown destinations during the 2016/2017 marketing year. The marketing year for soybeans began September 1.

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