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Soybean futures are trading slightly lower so far this morning, after closing 4 to 6 cents lower on Monday. Mar16 closed at its lowest price since December 16. The USDA weekly export inspections totaled 1.173 MMT, about 2% smaller than the previous week, but down 21% from the same week a year ago. YTD inspections through last Thursday are nearly 13% behind the record pace set in 2014/15. The average pre-WASDE trade guess for 15/16 ending stocks is 449 mbu (Jan: 440 mbu). World ending stocks ideas were around 79.09 MMT (Jan 79.28 MMT). Brazilian bean production is expected to slip by 0.8 MMT from the Jan estimate to 99.2 MMT, while Argentinean bean production is expected to rise to 57.3 MMT, up 0.3 MMT from the January report. The USDA report will be released this morning at 11 CST.