Soybean futures are fractionally higher this morning after since rallying 6 1/2 to 7 1/2 cents on Tuesday. Nearby July soybean meal was up $3.70/ton, with soy oil 2 points higher. USDA will release their monthly WASDE report this Thursday, with the average trade estimate for 18/19 soybean carryout seen at 1.056 bbu a 14 mbu drop from June. New crop ending stocks are seen dropping 215 mbu to 830 mbu on lower production, as WAOB takes into account the low acreage number from the June 28 NASS report.
--provided by Brugler Marketing & Management