Soybeans Posting Tuesday Gains Despite USDA Raising Brazilian Production

Group 1 - Soybeans are experiencing gains of 10 to 11 cents, with the national average Cash Bean price rising to $10.55, an increase of 10.5 cents [1] - Soymeal futures are up by $2.40, while Soy Oil futures have increased by 37 to 38 points [1] - The WASDE data indicates no changes to the US ending stocks projection, which remains at 350 million bushels [1] Group 2 - Brazil's soybean production forecast has been raised by 2 million metric tons to 180 million metric tons, while Argentina's forecast remains at 48.5 million metric tons [2] - The World Ag Outlook Board has increased the world ending stocks number by 1.10 million metric tons to 125.51 million metric tons [2] - Current soybean prices for March 26 are reported at $11.21 1/2, up 10 3/4 cents, with nearby cash at $10.55, up 10 1/2 cents [2]