July Soybeans finished unchanged at 1379 1/2, 8 1/2 off the high and 13 up from the low. November Soybeans closed up 7 1/4 at 1333. This was 17 up from the low and 7 off the high.
July Soymeal closed up 1.5 at 351.7. This was 5.6 up from the low and 3.3 off the high.
July Soybean Oil finished down 0.6 at 61.5, 1.1 off the high and 0.18 up from the low.
Trade in soybeans was mixed to mostly higher today with the new crop November contract leading old crop July throughout the session. Traders indicate that the strength in new crop contracts is the result of accelerated planting in corn which is expected to result in fewer acres shifted from corn into soybeans. Meal gained on oil throughout the session which traders said was the result of lower crude oil and a bearish oil stocks number on this morning's NOPA report. The National Oilseed Processors Association (NOPA) released its estimates for the month of April this morning and it pegged crush at 139.966 million bushels for the month which was below trade expectations. This compares to 148.165 on last month's report and 138.720 last year. Oil stocks at the end of April were pegged at 2.409 billion pounds which was about 3% higher than expected. Weather is expected to be mostly dry in the western corn and soybean belt over the next week which is expected to allow corn to reach a near normal pace in plantings by the middle of next week. May futures contracts expired today for soybeans, meal and oil.