March soybeans are trading 3 cents higher near 7:30 am cst. There were no January soybean meal deliveries bringing the month-to-date total to 48. Soybean oil deliveries totaled 704 bringing the month-to-date total to 15,673. There were no soybean deliveries. Malaysian Palm Oil futures bounced overnight after hitting a 2 week low yesterday. Traders noted short covering ahead of the release of demand data later this week. Mainland Chinese shares were mostly lower overnight while Hong Kong shares were minimally higher perhaps because of ideas that the IPO market on the mainland might be closed through the end of the 1st quarter. European shares were a touch higher off a favorable start to the US corporate earnings cycle. Alcoa earnings were mostly as expected, but revenues beat expectations and the company also offered up an upbeat forward view.
Read More on International Business Times