Soybeans Pushing Higher on Thursday

Group 1 - Soybean prices are experiencing a slight decline, with the national average cash bean price down 4 cents to $10.64 1/2 [1] - Soymeal futures are showing mixed results, with prices fluctuating between 40 to 20 cents lower, while Soy Oil futures are up by 85 to 90 points [1] - Analysts anticipate USDA will report soybean sales between 375,000 MT and 1.2 MMT for the week ending February 12, with meal sales projected at 220,000-450,000 MT [2] Group 2 - The USDA Ag Outlook Forum indicates an expected increase in soybean planting to 85 million acres this spring, which would be an increase of 3.8 million acres from last year [3] - Soybean production is estimated at 4.45 billion bushels, with a yield forecast of 53 bushels per acre [3] - International Grains Council data reveals a rise in world soybean stocks by 2 MMT to 79 MMT, while consumption has decreased by 1 MMT and production has increased by 1 MMT [4]