Soybean Futures Steady After Monday's Sharp Rise

Weather chatter about hot and dry weather in the Southern Hemisphere helped bring buyers in on Monday. Weekly Soybean export inspections were 1.406 million tonnes pretty much as expected. Soybean export inspections so far are 64.3 percent of the USDA forecast; the five-year average is 53.8 percent. Brazil's December exports were 138,580 tonnes of soybeans lower than November's 176,556, but higher than 41,444 tonnes a year ago. Soybean Basis was firm at the gulf. March Soybeans are unchanged Tuesday morning at 1045 3/4. March Soybean Oil is down 0.20 at 32.67. March Soybean Meal is unchanged at 354.