Soybean futures are showing gains of 13-14 cents in most front months on Turnaround Tuesday. Meal futures are up $4.80/ton, with nearby soy oil 54 points higher. Protests by truckers, slowing shipping in Argentina, are providing support at the moment. The average trade guess for 2017/18 soybean ending stocks in Thursday’s USDA Supply and Demand report is 487.8 mbu, 17.8 mbu larger than January. Traders are expecting another cut in export projections. Analysts are also projecting the USDA will add 1.5 MMT to Brazil’s soybean production at 111.5 MMT. That increase is expected to be offset by a 2.2 MMT reduction in Argentine production to 53.8 MMT.

Mar 18 Soybeans are at $9.83 1/2, up 13 3/4 cents,

May 18 Soybeans are at $9.94 3/4, up 13 1/2 cents,

Jul 18 Soybeans are at $10.04 3/4, up 13 1/2 cents,

Aug 18 Soybeans are at $10.07, up 13 1/4 cents,

Mar 18 Soybean Meal is at $331.80, up $4.80

Mar 18 Soybean Oil is at $33.04, up $0.54

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