Soybean Market News and Commentary
BRUG - Wed Feb 06, 7:22AM CST

Soybean futures are trading 1/4 to 1 cent lower as we head into the morning break. They ended the Tuesday session with most nearby contracts 1 to 2 1/2 cents higher Meal futures were down $1.10/ton, with soy oil 25 points higher. Private export sales of 2.603 MMT of soybeans to China and 274,000 MT to unknown were reported by the USDA yesterday morning. Ahead of Friday’s USDA reports, traders estimate Dec 1 soybean stocks at 3.743 bbu, which would be 582 mbu above last year. The Crop Production report is expected to show US soybean yield updated to 51.8 bpa, down 0.3 bpa from November. Stats Canada Canadian canola stocks were tallied at 14.552 MMT on Dec 31, which is 4.9% larger than this time last year.

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