Soybean futures fell 39 1/2 to 46 cents in most contracts on Thursday, as a Chinese agreement to purchase US beans had little impact.July 17 soy meal was $17.60 the red, as soy oil dropped 42 points in the front month. The USDA indicated 16/17 soybean export sales of 228,041 MT for the week of July 6, with new crop sales at 455,000 MT. Total sales were 55.7% larger than a week ago but 25% lower than last year. Weekly export shipments were reported at 407,368 MT, 46.2% above the previous week and 2.2% higher than the same week in 2016. Soy meal sales came in at 140,715 MT, with most of that coming from 17/18 sales.
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