Soy weaker premarket

Soybeans went north yesterday. The May contract closed at 1,145.25 US cents/bu, up 4.50 US cents/bu. Soybean meal rose to 327.50 US dollars/short ton in the May contract and is therefore trading at the equivalent of 332.30 euros/t. Significant price-moving news was rare yesterday. The analysis company Abiove from Brazil corrected its own soybean estimate by 2.3 million tons to 153.8 million tons. For today's publication of US export sales, analysts are anticipating an export volume of between 100,000 and 600,000 tons. Only 55,900 tonnes were sold last week. New soy processing figures are expected on Friday. Today beans and meal start trading with losses.

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