Soybeans

Soybean futures are currently 5 to 6 cents higher after posting sharp 15 to 19 cent losses in the front months on Wednesday. The rest of the soy complex also saw weakness. Soy meal was down $5.70/ton, with front month soy oil 53 points lower. Recent weakness in the Real vs. a stronger US dollar has cheapened Brazilian soybeans on the world market. USDA weekly soybean export sales of old crop are expected to be 300,000-600,000 MT today, with new crop at 100,000-400,000 MT. Soy meal sales are seen at 100,000-300,000 MT, with 10,000-40,000 MT estimated for soy oil.




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