Soybeans saw early AM losses of 5 to 6 cents as bulls took a break. Contracts were up 10 to 12 cents at close, with November filling the gap. Cash Bean price was up 10 1/4 cents at $9.82. Soymeal futures rose $3 to $5.70/ton, while Soy Oil futures increased by 5 to 31 points.

NOAA’s 7-day forecast predicts 1 to 3 inches of rain over MN and WI, with lighter precip in the Dakotas and MI. Export Sales data expected to show 200,000 to 700,000 MT in old crop soybean sales and 400,000 to 900,000 MT in new crop business. Meal bookings estimated at 150,000 to 500,000 MT, bean oil expected between 0 and 22,000 MT.

CONAB data released today shows soybean crop at 169.65 MMT, up 0.16 MMT mo/mo. Aug 25 Soybeans closed at $10.23 1/2, up 11 3/4 cents, while Sep 25 Soybeans closed at $10.24, up 11 1/4 cents. Nov 25 Soybeans closed at $10.44 1/4, up 11 1/2 cents. New Crop Cash was $9.74, up 10 1/2 cents.

Read more at Yahoo Finance: Soybeans Fading Lower on Thursday Morning