November Soybeans finished unchanged at 1225, 1 1/4 off the high and 23 1/2 up from the low. January Soybeans closed down 3/4 at 1230 1/2. This was 23 up from the low and 1 3/4 off the high. December Soymeal closed up 1 at 320.3. This was 6.1 up from the low and 0.9 off the high. December Soybean Oil finished down 0.09 at 51.39, 0.18 off the high and 0.85 up from the low. November soybeans closed unchanged on the session but near the highs of the day and up 23 1/2 cents from the lows. A surge higher in corn and wheat plus a more positive view over the possibility of see reduced concerns for European debt by the end of the weekend helped to support. A bounce in the US dollar and further significant selling pressures for copper, energy and equity markets helped to spark another round of long liquidation selling in many commodity markets this morning and soybeans were no exception. Fears of declining global demand helped to pressure. Cash basis levels were firm and this helped to provide some support but fund sellers were active to drive the market lower early today. Weekly export sales for soybeans came in at 594,700 metric tonnes which pushed cumulative sales to 48.3% of the USDA forecast for 2011/2012 (current) marketing year versus a 5 year average of 47.6%. Sales of 418,000 metric tonnes are needed each week to reach the USDA forecast. Sales were well below expectations for near 925,000 tonnes. Rumors that a few cargoes of China imports were switched from US to Brazil was also seen as a factor to spark long liquidation selling. Meal sales came in at 348,900 metric tonnes for the current marketing year and 500 for the next marketing year for a total of 349,400 which was well above trade expectations. Sales of 103,000 metric tonnes are needed each week to reach the USDA forecast. Oil sales came in at 6,100 metric tonnes which was near the lower end of trade expectations. Sales of 15,000 metric tonnes are needed each week to reach the USDA forecast. Argentina planted area for the 2011/12 season is expected to come in near 18.6 million hectares as compared with 18.5 million last year.

Bron: CME