Soybeans

Soybean futures are 2 to 5 1/2 cents higher on Thursday. Meal futures are up $5.30/ton, with nearby soy oil down 19 points. The USDA reported 743,223 MT of old crop soybean export sales during the week of 2/1, edging out expectations. That was more than double last week’s sales and 61.4% larger than this week last year. There were 205,700 MT in reductions reported for Unknown Destinations, which were most likely switched. Soy meal sales were tallied at 160,753 MT, with soy oil at 7,793 MT. This morning’s WASDE report showed US soybean exports trimmed 60 mbu by the USDA, causing ending stocks to raise the same amount to 530 mbu. On the world side Brazil production was increased 2 to 112 MMT, while Argentina offset that amount now at 54 MMT. The world ending stocks projection was slightly lower at 98.13 MMT.

Mar 18 Soybeans are at $9.88, up 5 cents,

May 18 Soybeans are at $9.98 3/4, up 4 1/2 cents,

Jul 18 Soybeans are at $10.08, up 4 cents,

Aug 18 Soybeans are at $10.08 1/4, up 2 1/2 cents,

Mar 18 Soybean Meal is at $340.70, up $5.30

Mar 18 Soybean Oil is at $32.37, down $0.19




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