Soybean Futures Trading Higher

January Soybeans are trading at 1047 3/4, up 5 1/4 cents/bushel. January Soymeal is trading at 323.8, down 0.4 $/ton. January Soybean Oil is trading at 37.22, up 0.60 cents/lb. Soybean futures are trading a little under the session highs. Chatter about Southern Hemisphere soybean production and weather is making the rounds. The USDA baseline forecast for 2017 to 2018 soybean acreage is 85.5 million, up 1.7 million acres versus this year.