USDA report kept carry out stocks in the U.S. as 125. This should have been a bullish number, but they increased world carry out to 62.3 vs 60.20 last month.

They also kept Brazilian production at 83.5 and Argentina at 51.5. By keeping these numbers unchanged, it increased world carry over by 2.0. So, it appears the basis will need to do the work in the U.S. to keep the market place supplied.

Soybean Bids provided by Louis Dreyfus Commodities.