Soybean futures are trading 5 to 6 cents higher this morning in a little Turnaround reaction. They finished Monday with 19 to 25 1/4 cents losses in the front months. Pressure from meal and profit taking ahead of Thursday’s USDA report pressured prices lower. Soy meal was down $9.60/ton, with front month soy oil up 11 points. A plunge in the Argentine peso hurt US meal values by making exports less competitive. The USDA indicated that 533,667 MT of soybeans were shipped for the week that ended 5/3. That was down 22.89% from a week ago but 43.79% larger than this time last year. Soybean planting progress was shown 15% complete by the USDA on Monday afternoon. That was 10% more than last week and is now ahead of the average pace by 2%.