Soybeans Higher

Market talk that Thursday's USDA weekly export sales were better than expected for soybeans and was considered supportive for prices.

Friday morning soybeans are extending Thursday's gains a little bit. Chatter about record global supplies continues. March soybeans are trading at 987 3/4 up 4 cents. Weekly export sales for soybeans came in at 746,200 tonnes compared with expectations for 350.000 tonnes.

Soymeal sales export sales were 234,500 tonnes. March soymeal is trading at 333.2 up 2.7. Soybean oil sales were 16,100, March soybean oil is trading at 31.96 down 0.05.

All U.S. grain futures are closed on Monday for the President's Day holiday. Trading in advance of the holiday is expected to be choppy.