Soybean Futures Edge Up

March Soybeans are trading at 1041 1/2, up 1 1/4 cents/bushel. March Soymeal is trading at 330.2, up 2.3 $/ton. March Soybean Oil is trading at 35.74, down 0.33 cents/lb.

Soybean futures are trading just under the session highs.

The USDA reported on Thursday that soybean export sales as of January 5th are now 86.6 percent of the agency forecast versus the five year average of 81.4 percent. Soymeal sales for the current year are 53.9 percent of the agency forecast versus the five year average of 56.8 percent. Soybean oil sales for the current year are now 57.1 percent of the forecast versus the five year average of 50 percent.