Soybeans are trading 3 to 4 cents higher following overnight trade. They pushed lower into Thursday’s close, as contracts settled with losses of 6 ¾ to 15 ¼ cents on the day, led by the nearbys. Soymeal was down 70 cents to $3.0 at the closing bell. Soy Oil was down another 22 to 90 points on the day.  

USDA Weekly Export Sales for soybeans in the week that ended on April 11 were at 485,795 MT. That was in the middle of the 300,000-650,000 MT trade estimates and a 4-week high. China purchased 131,000 MT, with 84,500 MT sold to Mexico. The new crop was 263,200 MT, a MY high for the 24/25 total.  Old crop export commitments are still running 18% below year ago.  USDA is projecting a 15% shortfall for the full marketing year (ends August 31). 

The weekly report showed soy meal sales on the low end of the 100,000 to 400,0000 MT estimates at a total of 129,789 MT, with bean oil reported at just 140 MT. 

The BAGE estimates 14% of the Argentine soybean crop is harvested, up from 11% the previous week.

May 24 Soybeans  closed at $11.34 1/4, down 15 1/4 cents, currently up 3 cents

Nearby Cash   was $10.80 1/2, down 15 1/8 cents,

Jul 24 Soybeans  closed at $11.49, down 15 1/4 cents, currently up 3 cents

Nov 24 Soybeans  closed at $11.49 1/4, down 12 cents, currently up 4 cents

New Crop Cash   was $10.86 3/4, down 12 cents,