Soybeans Falling Back Early on Friday

Market Overview - Soybean futures experienced losses of 5 to 8 cents in the front months, although they were still higher by 2 ½ to 13 ¼ cents earlier in the day, led by the front months [1] - The national average cash bean price increased by 13 ¼ cents to $11.52 1/4, while soymeal futures rose by $1.90 to $4.80, and soy oil futures were up by 13 to 26 points at the close [1] Export Sales Data - USDA reported 456,740 MT of old crop soybeans sold for the week ending on March 5, marking a 34.15% decrease compared to the same week last year, with Indonesia being the top buyer at 204,300 MT [2] - Soybean meal sales were recorded at 166,002 MT, which was at the low end of estimates, while soybean oil sales saw net cancellations of 2,835 MT [3] Monthly Export Performance - January soybean exports reached 5.821 MMT (157.9 million bushels), surpassing the previous year's figures, with meal exports hitting a record of 1.678 MMT and bean oil exports at 77,396 MT [3] Crop Estimates - Brazil's soybean crop estimate was slightly reduced by 0.13 MMT to 177.85 MMT according to the latest CONAB estimate [3]