Soybean Futures Trading higher

September Soybeans are trading at 980 1/2, up 9 1/4 cents/bushel. November Soybeans are trading at 961, up 8 cents/bushel. December Soymeal is trading at 328.1, up 1.4 $/ton. September Soybean Oil is trading at 30.63, up 0.45 cents/lb. Soybean futures are trading higher Wednesday morning. Market chatter about weather and the USDA crop production report due out next week is making the rounds. USDA weekly export sales are due out Thursday morning. The agency is scheduled to release the World Agricultural Supply and Demand Estimates Report (WASDE) and soybean crop production data Friday August 12th. The USDA representative in Indonesia estimated that Indonesian palm oil production for 2015 to 2016 was near 32 million tonnes. The early estimates for the 2016 to 2017 season is near 33.5 million tonnes with La Nina weather helping to improve growing conditions.