Soybeans are trading with gains of 2 to 3 cents on Tuesday morning after posting losses of 5 to 6 cents on Monday. Open interest is up 4,726 contracts, with the national average Cash Bean price at $9.92 1/4. Soymeal futures were down $2.00 to $5.60, with Soy Oil futures steady to 10 points lower.

Export Inspections data shows soybean shipments at 1.324 MMT, down 1.54% from the previous week but 79.45% higher than last year. China was the top destination with 897,459 MT. Marketing year shipments total 20.67 MMT, a 37.5% increase year-over-year.

Export Sales data reveals marketing year soybean sales at 33.035 MMT, 22% lower than last year, 77% of USDA’s forecast, and 8 percentage points behind normal. Brazil’s soybean crop is 4.9% harvested, ahead of last year’s pace, with an estimate raised to 181 MMT.

Soybean futures closed at $10.61 3/4 for Mar 26, down 6 cents. Nearby Cash closed at $9.92 1/4, down 5 1/2 cents. May 26 Soybeans closed at $10.74, down 5 1/2 cents, while Jul 26 Soybeans closed at $10.87 1/2, down 5 cents, currently up 3 1/4 cents.

Read more at Yahoo Finance: Soybeans Bouncing Higher to Start Turnaround Tuesday