Soybean Futures Little Higher

March Soybeans are trading 1014 3/4, up 3 1/4 cents/bushel. May Soybeans are trading at 1026, up 3 1/2 cents/bushel. November Soybeans are trading at 1006 3/4, up 2 1/4 cents/bushel. March Soymeal is trading at 331.6, up 0.8 $/ton. March Soybean Oil is trading at 32.55, up 0.23 cents/lb.

The USDA acreage estimate for upcoming season is 88.0 million acres.

Street estimates for Brazil's soybean production are now showing up at 108.0 million tonnes.

The Buenos Aires Grains Exchange estimates that Argentina's soybean production will be 54.8 million tonnes. The government of Argentina said planted area declined to 19.45 million hectares from 19.8 million hectares.

The USDA weekly export sales report for soybeans is due out at 8:30 a.m. ET.