Soybeans are trading with 7 to 10 cent gains on Thursday int eh front months. The cmdtyView national average Cash Bean price is up 9 1/4 cents at $10.68 1/2. Soymeal futures are $4.50 to $5 higher on the day, with Soy Oil futures 5 to 10 points lower. A report overnight indicated the US and China are looking to extend a trade truce when the two leaders meet in China in April.
USDA reported a private export sale of 108,000 MT of soybeans to Egypt this morning.
USDA released Export Sales data this morning with a total of just 281,798 MT of soybeans sold in the week of 2/5, below trade ideas of 0.3-1.1 MMT. That was down from last week and a marketing year low, but still 141.16% above the same week last year.
Soybean meal sales were tallied at 356,990 MT, in the middle of the 200,000-450,000 MT estimates. Bean oil sales were 2,093 MT, within estimates of between net reductions of 10,000 MT and sales of 16,000 MT.
CONAB data from this morning showed Brazi’s soybean crop estimated at 177.98 MMT, a 1.86 MMT increase from the previous number.
Mar 26 Soybeans are at $11.33 1/4, up 9 1/4 cents,
Nearby Cash is at $10.68 1/2, up 9 1/4 cents,
May 26 Soybeans are at $11.48 1/4, up 8 3/4 cents,
Jul 26 Soybeans are at $11.60 1/4, up 7 3/4 cents,
