Soybeans are fractionally to a penny higher so far on Monday morning. Futures saw stronger trade late in the Friday session, as front months were 3 to 4 cents higher at the close. March was a dime higher last week. Friday’s open interest was up 5,871 contracts. The cmdtyView national average Cash Bean price was 3 3/4 cents higher at $9.98 ¾. Soymeal futures were 20 cents to $3.70/ton, as March rallied $9.90 last week. Soy Oil futures were 5 to 21 points higher, with March up 138 points since last Friday.
Export Sales data from Friday morning showed a marketing year high in soybean sales at 2.45 MMT in the week of 1/15. That was 18.6% above last week and 63.97% larger than the same week last year. China was the largest buyer of 1.304 MMT, with unknown destinations the buyer of 338,300 MT and 218,300 MT sold to Egypt.
