Soybeans slipped back from the midday highs, as contracts were still 2 ½ to 13 ¼ cents higher, led by the front months. The cmdtyView national average Cash Bean price was up 13 1/4 cents at $11.52 1/4. Soymeal futures were up $1.90 to $4.80, with Soy Oil futures were up 13 to 26 points at the close. Crude oil was up another $9.15 on Thursday to add to some spillover support.
USDA Export Sales data from this morning showed 456,740 MT of old crop soybean sold in the week ending on 3/5. That was the largest in 3 weeks, but still 34.15% below the same week last year. Indonesia was the top buyer of 204,300 MT, with 129,900 MT to Mexico, and 107,800 MT to Egypt. New crop business was 9,518 MT.
