Caught some solid movement in soybeans on Tuesday - contracts were running 11 to 13 cents higher across the front months, which is pretty decent. The cash bean price hit $10.56 1/4, also up about 11 3/4 cents. Soymeal was even stronger, jumping $2.10 to $3.20 on the day, and soy oil was in the green by 50 to 58 points. Definitely a good Tuesday for the complex overall.

The WASDE report this morning didn't shake things up much - US ending stocks stayed at 350 mbu, which is what traders were expecting. But there was some interesting international movement. Brazil got bumped up 2 MMT to 180 MMT like people figured, while Argentina held steady at 48.5 MMT. The World Ag Outlook Board also raised world ending stocks by 1.10 MMT to 125.51 MMT. ANEC is tracking Brazilian soybean exports at 11.71 MMT for February, up from the day before.

Looking at the specific Tuesday quotes: Mar 26 soybeans closed at $11.22 1/2 (up 11 3/4 cents), May 26 hit $11.37 1/2 (up 12 1/2 cents), and Jul 26 finished at $11.49 1/2 (up 13 cents). Nearby cash settled at $10.56 1/4. The November futures average has been sitting around $10.91, which is the baseline for spring crop insurance right now. Pretty solid Tuesday action across the board - the soybean complex is definitely showing some strength this week.