Soybeans

Soybean futures are trading 1 to 1 1/2 cents per bushel higher this morning. They continued to show weakness ahead of Friday’s massive report day on Wednesday, with most contracts 8 to 9 cents lower. Meal futures were down $1.60/ton, with nearby soy oil 26 points in the red. Trade ideas for the weekly USDA Export Sales report show 17/18 soybean sales in a range of 500,000-850,000 MT for the New Years holiday week of Jan 4. The average wire service trade guess for old crop world ending stocks is running 99.06 MMT, an increase of 0.74 MMT on larger SA production. That WASDE report will be released on Friday morning at noon EST.




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