Soybean futures for March are down 1.75 cents, with the national average cash bean price at $10.97. Overnight, 244 deliveries were issued, while soymeal futures have decreased by $3.70 to $4. Soy oil futures, however, are up by 50 to 65 points in the front months.
The USDA’s weekly Export Sales report, scheduled for release on Thursday morning, is expected to show soybean sales between 0.3 to 1 million metric tons (MMT) for the week ending February 26. Predictions also indicate soybean meal sales ranging from 200,000 to 550,000 MT, with soybean oil net sales potentially showing a decrease of 20,000 MT to an increase of 26,000 MT.
