**Soybean Futures Update – Thursday**
On Thursday, soybean futures reported gains, with contracts rising between 6 to 11 cents by midday. The cmdtyView national front month cash bean price increased by 10 cents to $9.71 3/4. Soymeal futures also climbed $1.40 per ton, while soy oil futures rose by 59 points.
The release of export sales data has been deferred to Friday, with expectations of 100,000 to 500,000 metric tons (MT) in old crop bean sales for the week of February 13. Projections for new crop sales are estimated at up to 100,000 MT. Soybean meal sales are anticipated to range from 200,000 to 600,000 MT, with bean oil bookings predicted to fluctuate between net reductions of 5,000 MT and net sales of 25,000 MT.
Additionally, the International Grains Council revised its global soybean projection down by 2 million MT to 418 million MT, with ending stocks also reduced by 2 million MT to 82 million MT.
