Thursday soybean futures trading has new crop prices weakening 1 to 2 cents. Nearby futures are up 2 1/2 to 4 1/2 cents. Soymeal futures are $0.90 to $2.20 in the red. Soy oil prices are trading 67 to 75 points higher. USDA announced two large private export sales for 20/21 this morning. China bought 136,000 MT of soybeans, and Mexico purchased 163,290 MT. The US national average soybean cash price from cmdtyView was $13.24/bu. IHS Markit upped their Brazilian soybean production estimate by 500k to 133 MMT (matching USDA). StoneX lowered their estimate by 1.3 MMT to 132.6 MMT. Private firm Datagro expects 135.6 MMT of Brazilian soybeans, which was up 0.6 MMT from their previous estimate. Malaysian palm oil futures posted another red candle on Wednesday; which was the 7th of the last 10 trade sessions for a net drop of 570 ringgits.
| Mar 21 Soybeans are at $13.73 1/4, up 3 3/4 cents, |
| May 21 Soybeans are at $13.71 3/4, up 4 1/2 cents, |
| Jul 21 Soybeans are at $13.56 1/4, up 4 1/2 cents, |
| Aug 21 Soybeans are at $13.12 1/2, up 1 1/4 cents, |
| Mar 21 Soybean Meal is at $440.30, down $2.10 |
| Mar 21 Soybean Oil is at $43.29, up $0.75 |
--- provided by Brugler Marketing & Management
