March Soybeans finished up 16 at 929 1/2, 10 1/4 off the high and 10 3/4 up from the low. July Soybeans closed up 15 1/4 at 948. This was 10 up from the low and 9 off the high.

March Soymeal closed up 3.4 at 274.4. This was 1.7 up from the low and 1.6 off the high.

March Soybean Oil finished up 0.95 at 37.95, 0.52 off the high and 0.88 up from the low.

Soybeans followed the same pattern as corn and wheat to start the week. This involved a higher market overnight followed by a burst above the overnight highs into the first half of the day session. Funds were significant buyers in soybeans and oil and more moderate buyers in meal. Oil gained on meal again today, although those gains were trimmed into early afternoon. Traders said that a lower dollar and higher gold and energies set a positive tone with many traders said to be evening up ahead of tomorrow's supply/demand reports from the USDA. Traders are looking for US ending stocks to be lowered by nearly 30 million bushels from last month's total of 245 million. Traders are also bracing for a possible increase in Brazil's soybean crop beyond last month's total of 65 million tonnes. This week's export inspections for soybeans came in at 39.6 million bushels versus 43.6 million last week. This was the third straight decline from the previous week's total. Total inspections to-date stand at 71.2% of the USDA's projected export total for the marketing year versus a 5-year average of 58.1%. Traders indicate that the market is expecting export demand for soybeans to start to slow ahead of the Lunar New Year in China this weekend. The celebration will extend through next week.