The soybean market is trading with early Friday losses of 1 to 2 cents. Futures were stronger on Thursday, with gains of 10 to 15 cents at the close. The cmdtyView national front month Cash Bean price was 14 1/4 cents higher at $9.85 1/4. Soymeal futures were up $1.30/ton on the day, with Soy Oil futures back up 92 to 99 points.
Export Sales data is pushed back to this morning, are traders are expecting to see between 100,000 and 500,000 MT in old crop bean sales during the week of 2/13. Sales for new crop are estimated to be up to 100,000 MT. Soybean meal sales are seen at 200,000-600,000 MT in bean sales. Bean oil bookings are expected to be between net reductions of 5,000 MT and net sales of 25,000 MT.
The International Grains Council trimmed back their projection for world soybeans by 2 MMT to 418 MMT, with ending stocks 2 MMT lower to 82 MMT. Argentina’s soybean crop was estimated at 17% excellent, up 2% from the prior week, all out of the poor category at 34%.
Mar 25 Soybeans closed at $10.45 1/2, up 13 3/4 cents, currently down 1 1/4 cents
Nearby Cash was $9.85 1/4, up 14 1/4 cents,
May 25 Soybeans closed at $10.63, up 14 3/4 cents, currently down 1 ½ cents
Nov 25 Soybeans closed at $10.61 1/4, up 10 cents, currently 1 cent
New Crop Cash was $9.97 1/4, up 10 cents,
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