Meal futures were down $4.10/ton, with soy oil down 17 points. Ahead of Friday’s USDA Planting Intentions report, traders are expecting US producers to plant 86.17 million soybean acres in 2019.

If realized, that would be a drop of nearly 3 million acres from last year.

The quarterly Grain Stocks report will also be released, with analysts at 2.728 bbu for March 1 soybean stocks, up 619 mbu from the same time in 2018.