Soybean Futures Trading Lower

March Soybeans are trading at 999 1/4, down 6 cents/bushel. March Soymeal is trading at 312.1, down 1.8 $/ton. March Soybean Oil is trading at 35.28, down 0.21 cents/lb. Soybean futures are trading at the session lows. Chatter about various estimates for Southern Hemisphere soybean production is making the rounds. The USDA reported on Monday that export inspections for soybeans as of January 5th are now 61.7 percent of the USDA forecast versus the five year average of 58.8 percent.