Soybean futures closed the Friday session with most contracts steady to 4 1/4 cents higher. Soy meal futures were down $1410/ton, with nearby soy oil 32 points in the green. A private export sale of 106,000 MT of soybeans was reported to unknown destinations this morning, with 40,000 MT for 17/18 and 66,000 MT for 18/19. The USDA showed a total of 109,144 MT in net reductions for old crop soybean export sales during the week of 2/15. Meal sales totaled 131,922 MT, with soy oil at 42,914 MT in sales. In the annual Ag Outlook Forum, the USDA expects the US soybean yield to average 48.5 bpa in 18/19. Analyst's with Brazilian firm AgroConsult now expect to see the country's production near 117.5 MMT, up 3.4 MMT from their previous estimate. AgRural estimates that the crop is 25% complete, down from the average of 27% and last year’s 36%.

Mar 18 Soybeans closed at $10.36 1/4, up 4 1/4 cents,

May 18 Soybeans closed at $10.47 1/2, up 4 1/4 cents,

Jul 18 Soybeans closed at $10.56, up 3 1/2 cents,

Sep 18 Soybeans closed at $10.40 1/4, up 1 3/4 cents,

Mar 18 Soybean Meal closed at $375.50, down $1.40,

Mar 18 Soybean Oil closed at $32.36, up $0.32

Market Commentary provided by:

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