Soybeans were in rally mode on the midweek session, with contracts 9 to 11 cents higher at the close. The cmdtyView national average Cash Bean price was up 11 cents at $11.01 3/4. Soymeal futures were $1.10 to $4.70 higher on the day, with Soy Oil futures up steady to 116 points.
Weekly Export Sales data will be released on Thursday morning, with traders looking for USDA to report between 200,000 to 600,000 MT for old crop bean business in the week ending on 4/9. New crop sales are seen in a range of 0 to 100,000 MT. Soybean meal sales are seen at 300,000 to 600,000 MT, with bean oil business expected to be net reductions of 10,000 MT to net sales of 14,000 MT.
