Soybeans are trading with midday weakness of 6 1/4 to 11 1/4 cents. Front month soymeal prices are higher at midday with gains of as much as $4.70 in the May contract. BO futures are down triple digits, with May down 279 points ahead of Friday’s FND.

USDA reported 292,500 MT of old crop beans booked through the week ending 4/22. That was higher than the range of estimates and up 350% on the week. Mexico and China were the week’s top buyers. Total commitments remain at record levels now 61.12 MMT (2.246 bbu). New crop bookings were 439k MT which was at the high end of expectations.

The weekly Export Sales report showed soymeal bookings were 163,514 MT. That was up 32% wk/wk and even with the same week last season. Meal sales for 21/22 deliver were reported at 96,862 MT. The weekly data showed BO bookings were a low 3,631 MT. Soybean oil shipments were 12,405 MT for the week ending 4/22 bringing the MYTD accumulated export to 569,557 MT. 

May 21 Soybeans  are at $15.46 1/2, down 11 1/4 cents,

Jul 21 Soybeans  are at $15.07 1/4, down 6 1/2 cents,

Nearby Cash is at $15.18 1/2, down 6 3/8 cents,

Nov 21 Soybeans  are at $13.19, down 9 cents,

New Crop Cash is at $12.69 1/1, down 8 3/4 cents,