Soybeans are posting 6 to 8 cent gains across most contracts on Thursday.  There were 3 deliveries against May soybeans overnight. CmdtyView’s national front month Cash Bean price is up 9 1/2 cents at $9.98 1/2. Soymeal futures are down $2.30 to $2.50/ton, with Soy Oil futures back up 97 points. There were 563 delivery against May meal overnight with 164 deliveries for May bean oil.

USDA to showed 428,227 MT in the week of 4/24 on the higher side of estimates of between 150,000 and 600,000 MT for old crop soybean sales. That was up 54.6% from last week and 3.4% above the same week last year. China was the buyer of 139,400 MT, with 134,000 MT switched from unknown, and Germany buying 70,000 MT.  New crop was tallied at 50,000 in the middle of the range of 0 to 100,000 MT and all sold to Mexico. 

Soybean meal boomed out to 328,219 MT, which was on the higher side of 150,000 to 450,000 MT estimates and an 11-week high, with soybean oil sales totaled 8,200 MT, on the low side of the 4,000 to 30,000 MT estimates and an 11-week low.

A Bloomberg survey of analyst shows estimated March soybean crush at 205.9 million bushels, up 1.2% from last year if realized. The report will be released later this afternoon. 

May 25 Soybeans  are at $10.41 1/4, up 6 1/2 cents,

Nearby Cash  is at $9.98 1/2, up 9 1/2 cents,

Jul 25 Soybeans  are at $10.51 3/4, up 7 1/4 cents,

Nov 25 Soybeans  are at $10.25 1/4, up 7 cents,

New Crop Cash  is at $9.63 1/4, up 7 1/4 cents,