Soybeans futures are trading with contracts 3 to 8 cents higher as nearby May is down 1 ½ cents.  The cmdtyView national average Cash Bean price is up 9 cents at $11.32 1/4. Soymeal futures are steady to $1.70 lower, with Soy Oil futures up 22 to 42 points. There were 367 soybean delivery notices overnight, with another 712 issued against May soybean oil and still no for bean meal.

EIA data showed soybean oil used for biodiesel at 1.058 million lbs in February. That was a 7 month high for bean oil use and 44.34% of the overall feedstock in biodiesel/renewable biodiesel.

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USDA’s monthly Fats & Oils report will be published later this afternoon, with traders looing for March crush to total 231.1 million bushels. Soybean oil stocks are seen at 2.555 billion lbs.

USDA’s weekly Export Sales report from Thursday has total soybean commitments at 38.776 MMT, an 18% decline from the same week last year. That was also 93% of the USDA export number and 4 percentage points behind the 5-year average.

May 26 Soybeans  are at $11.80 1/2, down 1 1/2 cents,

Nearby Cash  is at $11.32 1/4, up 9 cents,

Jul 26 Soybeans  are at $11.99 1/4, up 3 3/4 cents,

Nov 26 Soybeans  are at $11.80 3/4, up 7 3/4 cents,

New Crop Cash  is at $11.20 1/4, up 9 1/4 cents,

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com