Soybeans Hold onto Gains on Wednesday

Group 1 - Soybeans experienced gains of 1 to 4 3/4 cents, with the national average Cash Bean price rising by 2 cents to $10.58 1/4 [1] - Soymeal futures increased by $1.00 to $2.20, while Soy Oil futures decreased by 15 to 36 points [1] - The average close for November futures in February was $10.93, compared to last year's base spring price for crop insurance of $10.54 [1] Group 2 - The USDA is set to release Export Sales data, with expectations for old crop soybean sales ranging from 0.3 to 1.1 million metric tons (MMT) for the week of February 5 [2] - Soybean meal sales are projected to be between 200,000 and 450,000 metric tons, while bean oil sales may see net reductions of 10,000 metric tons or sales of 16,000 metric tons [2] Group 3 - The Rosario Grains Exchange estimates the Argentina soybean crop at 48 MMT, an increase of 1 MMT from previous estimates [3] - Closing prices for various soybean futures on March 26 included $11.24 for Mar 26 (up 1 1/2 cents), $10.58 1/4 for Nearby Cash (up 2 cents), $11.39 1/2 for May 26 (up 2 cents), and $11.52 1/2 for Jul 26 (up 3 cents) [3]