The National Commodity & Derivatives Exchange on Wednesday marked 1,680 tn of soybean seed under the staggered delivery mechanism against the July contract, which will expire on Friday.

The bourse also marked a few other farm commodities for staggered delivery.

Under the staggered delivery mechanism, sellers can indicate intention of delivery to the exchange during the tender period, which is 10 days before the expiry of the contract.

Soybean futures ended the session with the nearby contracts 1 to 2 cents lower. August soybean meal was down 50 cents/ton, with soy oil 4 points lower. Old crop soybean sales totaled 127,890 MT during the week of July 11.

That was a 10-week low and 34.1% below last year. Indonesia was the lead buyer of 123,500 MT, with net reductions of 171,100 MT for unknown destinations.

New crop bookings were shown at 198,367 MT, up 53.2% wk/wk but down 67.7% yr/yr.

Old crop export commitments are now 105% of USDA’s projected total vs. the 103% average. Exports are 85% of that number, with the normal pace at 83%. Soybean Meal were reported at 214,787 MT with the bulk for 19/20, as total soy oil sales were at 13,728 MT.