USDA raised its forecast of the 2012/13 soybean crush by 10 million bushels this month to 1.57 billion, as lower prices helped to strengthen export outlooks for soybean meal and soybean oil. USDA’s price forecast for soybeans in 2012/13 is lowered 35 cents to $13.55-$15.55 per bushel. Export forecasts for 2012/13 were raised this month for both soybean meal (up 300,000 short tons to 8.2 million) and soybean oil (up 600 million pounds to 1.8 billion). Download the USDA ERS Oil Crops Outlook Report for December from the link below (PDF).