Soybean Futures Trading Higher

November Soybeans are trading at 951 1/2, up 7 3/4 cents/bushel. January Soybeans are trading at 955, up 7 3/4 cents/bushel. December Soymeal is trading at 308.3, up 1.7 $/ton. December Soybean Oil is trading at 32.97, up 0.42 cents/lb. Soybean futures are trading just under the session highs. Market chatter about weather in the U.S. and global soybean demand is making the rounds. The USDA reported on Thursday that soybean export sales for 2016 to 2017 as of August 25th are now 35.3 percent of the agency forecast versus the five year average of 38.8 percent. Soymeal sales for the current year are now 98.9 percent of the agency forecast versus the five year average of 97.6 percent. Soybean oil sales for the current year are now 107.7 percent of the forecast versus the five year average of 94.4 percent.