Exports: Both corn and soybeans tumble
Optional Origin Sales: For MY 2013/2014, outstanding optional origin sales total 130,000 MT, all China.
Soybean futures rallied on Wednesday, reflecting trader expectation about Chinese actions after they canceled a large number of Brazilian orders earlier this week due to its logistical problems and resulting delays. The futures rally continued into Thursday morning on anticipation of Chinese demand for U.S. soybeans. May soybeans surged 9.25 cents to $14.29/bushel early Thursday morning, while May soyoil climbed 0.39 cents to 50.23 cents/pound, while May meal moved up $1.6 to $415.4/ton.