Soybean futures are currently 4 to 5 cents higher after being 1 to 4 cents in the red. Preliminary open interest rose 9,265 contracts, with net new selling concentrated in August and November. Soy meal was up 50 cents/ton, with front month soy oil 38 points higher. The trade ideas for old crop soybean sales in this morning’s USDA report are running 300,000 to 600,000 MT in the week that ended 5/3. New crop is seen at 100,000-300,000 MT. Soy meal sales are projected at 100,000-400,000 MT with bean oil sales at 15,000-60,000 MT. For the WASDE report, world soybean ending stocks for 17/18 are estimated 0.9 MMT lower at 89.9 MMT. Analysts are expecting the USDA’s initial 2018/19 world carryout projection at 91.2 MMT, a slight increase from 17/18. Brazilian analyst Celeres is putting the soybean crop there at 117.8 MMT.