May soybeans opened 17 cents lower on the session at 1335 and established an early range of 1327 3/4 to 1351 3/4. The market opened lower and gradually firmed into the early mid session. Prices have remained in a relatively narrow range inside yesterday's trading range in the May soybean contract. Weakness in palm overnight helped pressure. Weekly export sales for soybeans came in at 532,300 tonnes which was well above trade expectations. Old crop sales reached 369,600 tonnes as compared with 42,400 tonnes necessary each week to reach the USDA projection. Cumulative sales have already reached 96.5% of the USDA forecast for the season as compared with 89.9% as the 5-year average sold for this time of the year. China was the largest buyer of soybeans at 239,900 tonnes for the week. Meal sales were at the high end of trade expectations at 178,800 tonnes. Old crop sales reached 156,800 tonnes as compared with 92,500 tonnes necessary each week to reach the USDA projection. France was the largest buyer at 30,000 tonnes for the week. Oil sales were 42,000 tonnes, all old crop, which was well above expectations and compares with 9,800 tonnes necessary each week to reach the USDA projection. Cumulative sales have already reached 75.4% of the USDA forecast for the season as compared with 51% as the 5-year average sold for this time of the year. The US Census Crush for February came in at 146.4 million bushels versus 136.9 million a year ago and 134.3 as the 5-year average. The cumulative crush of 938.3 million bushels is running at 51.1% of the USDA projection for the entire marketing year. This compares with the 5-year average pace for this time of year at 51.8%. The US Soybean Oil stocks for the end of February came in well below expectations at 2.681 billion pounds versus 3.061 billion the previous month and 3.281 billion a year ago. Stock levels are currently running at 18.3% below a year ago versus the USDA projection calling for stocks to eventually climb to 14.1% below a year ago by the end of the season. Basis levels at the Gulf were called steady this morning with few bids despite the shift of demand from Argentina. The strike there continues with no end in sight.