March soybeans were down 9 cents late in the overnight session. China futures were down 0.6%. Malaysia palm oil futures were down 1.7%. Outside market forces look weak as a continued surge in energy prices is prompting concerns for global economic growth. A lower dollar is a partial offset. Continued unrest in the Middle East and North Africa helped to pressure the market overnight as traders see a risk of slower global economic growth as a negative demand factor. In addition, speculative long liquidation continues. The USDA Outlook Forum begins today and last through tomorrow afternoon. The USDA left their planted acreage outlook at 78 million acres for the 2011 season which is up from 77.4 million this past year. Ending stocks are projected at 160 million bushels which would be up slightly from 140 million this year but still considered tight ahead of the growing season. Production is expected at 3.345 billion bushels as compared with 3.329 billion last year. China's Commerce ministry believes that China March soybean imports will remain low at just 3.16 million tonnes which would be the lowest in one year and below the February estimate of 3.17 million tonnes. A lack of follow-through selling on the early break yesterday on the move to the lowest level since December 13th helped to turn the market back up. The market found support throughout the session to see a push moderately higher on the day into the close and a close near the highs of a 37 1/4 cent range. Ideas that the recent break was too far, too fast plus support from a lower US dollar and continued strength in energy prices helped support the turn higher. Higher trade in gold added to the positive tone. A break of as much as $1.71 off of the February 9th highs helped support the idea that the market is in a short-term oversold condition. South Korea bought 45,000 tonnes of meal. Traders see improving crop conditions and higher trade estimates out of South America due to recent better weather. Demand news this morning was slow and the monthly Census crush report showed January soybeans crushed at just 149.17 million bushels which was more than 2 million bushels below expectations.