Soybean futures finished Wednesday trade with most nearby contracts 8 to 9 cents in the red. July 17 soy meal was down $2.40, as soy oil was 30 points lower in the front month. The US and World Supply and Demand report showed 2017 soybean production at 4.26 bbu, a modest 5 mbu increase. The 17/18 US ending stocks shifted 35 mbu lower to 460 mbu, as 16/17 ending stocks were at 410 mbu. These were expected, but not large enough to satisfy hungry bulls. Brazil’s 16/17 soybean production number was left steady at 114 MMT.
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