Soybean Futures Trading Lower

January Soybeans are trading at 1049, down 7 cents/bushel. January Soymeal is trading at 325.7, down 2.5 $/ton. January Soybean Oil is trading at 36.82, down 0.15 cents/lb. Soybean futures are lower with a moderate overnight range. Market chatter about global soybean demand and Southern Hemisphere weather is making the rounds. The USDA reported on Monday that soybean export inspections as of November 24th are now 43 percent of the agency forecast versus the five year average of 40 percent.