Bounding Box not available in Standard?

Hi All,

I am interested in using the bounding box feature demonstrated here: http://blogs.solidworks.com/solidworksblog/2013/02/new-bounding-box-in-solidworks-2013-not-just-for-weldments.html

After I Update the cut list however the context menu does not show "Create Bounding Box" as an option. Is this just because I have the Standard version of solidworks? I don't see anywhere where it says its only available in premium or professional.

Thanks

SolidworksWeldments