Soybean meal gained strength as weather forecasts in Argentina remain on the drier side during some key stages of the crop’s growth period.

The USDA will release Export Sales data on Thursday morning for the week ended January 23. Analysts expect old-crop soybean sales to be between 0.4 and 1.8 million metric tonnes, while new-crop bookings are likely to be between 0 and 0.1 million metric tonnes. Soybean meal sales are estimated in the range of 0.225 to 0.500 million metric tonnes, while soybean oil sales are expected between 0 and 26,000 metric tonnes.