Soybean Futures Trading Lower

March Soybeans are trading at 1059 3/4, down 7 3/4 cents/bushel. March Soymeal is trading at 345.2, down 3.5 $/ton. March Soybean Oil is trading at 35.16, up 0.01 cents/lb. Soybean futures are trading a little above the session lows. The USDA reported on Friday that soybean export sales as of January 12th are now 88.4 percent of the agency forecast versus the five year average of 83.4 percent. Soymeal sales for the current year are 57.4 percent of the agency forecast versus the five year average of 58.3 percent. Soybean oil sales for the current year are now 61.3 percent of the forecast versus the five year average of 52.2 percent.