May Soybeans finished up 10 1/2 at 958, 6 1/4 off the high and 16 1/4 up from the low. July Soybeans closed up 9 1/2 at 965 1/2. This was 15 1/2 up from the low and 6 1/2 off the high.

    May Soymeal closed down 0.3 at 258.7. This was 0.7 up from the low and 3.3 off the high.

    May Soybean Oil finished up 0.72 at 41.02, 0.03 off the high and 1.02 up from the low.

    May soybeans started the day session marginally lower in line with lower opens in wheat and corn. This followed the release of the USDA´s March supply and demand reports which were considered negative for wheat and corn and neutral to negative for soybeans. However, traders said that selling evaporated in the soybeans complex and prices surged to substantially higher levels into early mid session. The May soybean contract gave up most of its gains into early afternoon, but recovered into the close. Meal and oil were also higher for much of the day, although oil began to outpace meal as the March, May and July oil contracts made new highs for the day while meal sagged toward a fractionally higher close. The USDA lowered 2009/10 soybean ending stocks to 190 million bushels from 210 million bushels in February. Traders were looking for a slightly higher total near 195 million bushels. The ending stocks projection is now down by 55 million bushels from the USDA´s December report. Exports were revised higher by 20 million bushels and crush was raised by 10 million. Soybean oil ending stocks were raised sharply to 2.637 billion pounds from 2.227 million last month along with a 300 million pound drop in domestic usage. The USDA pegged Brazil production at 67 million tonnes compared with 66 million tonnes last month. Argentina was left unchanged at 53 million tonnes. World soybean ending stocks for 2009/10 were raised to 60.67 million tonnes from 59.73 million tonnes in February.