Overnight soy trading has the board 2 to 5 cents higher. Soy futures ended the Thursday session mixed, but the losses in beans and meal were stronger than the gains for oil. Front month soybean futures closed 19 1/2 to 21 3/4 cents lower. Preliminary open interest dropped 1,971 contracts on a little long liquidation. Meal futures were down 2.01% to 2.24%. BO futures closed the session down 2 to 13 points. Soybean bookings for the week ending 1/21 came in below expectations with 466k MT booked. That was down 74% on the week, but still up 116% yr/yr. For soymeal, sales were reported at 142,190 MT which was just below the range of estimates. Soybean oil sales were reported at 19,131 MT. Trade estimates ahead of Monday’s Fats and Oils report average 193.9 mbu of beans for December crush. If realized that would be a record for the month of December and the 4th consecutive new monthly record. The BAX in Argentina is reducing its soybean production estimate slightly due to dryness back in December.
--- provided by Brugler Marketing & Management
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