Soybean Futures Little Higher

May Soybeans are trading 1026 3/4, up 2 1/2 cents/bushel. November Soybeans are trading at 1009 3/4, up 2 3/4 cents/bushel. May Soymeal is trading at 337.3, up 1.6 $/ton. May Soybean Oil is trading at 32.74, up 0.07 cents/lb.

Soybeans futures are trading rangebound.

The USDA reported on Friday that soybean export sales as of February 16th are now 93.5 percent of the agency forecast versus the five year average of 88.3 percent. Soymeal sales for the current year are 69.6 percent of the agency forecast versus the five year average of 67.6 percent. Soybean oil sales for the current year are now 73.5 percent of the forecast versus the five year average of 62.1 percent.

The USDA weekly soybean export inspection report is due out at 11:00 a.m. ET.