November Soybeans finished down 25 3/4 at 1225, 34 off the high and 1 1/2 up from the low. January Soybeans closed down 25 at 1231 1/4. This was 1 1/4 up from the low and 32 3/4 off the high. December Soymeal closed down 5 at 319.3. This was 0.1 up from the low and 8.1 off the high. December Soybean Oil finished down 1.22 at 51.48, 1.51 off the high and 0.08 up from the low. November soybeans closed sharply lower on the session with an outside-day down with the close near the lows of the day and the market moving to the lowest level since October 12th. A sluggish demand tone plus weakness seen in a wide range of other commodity markets helped spark speculative long liquidation selling. Choppy trade in the US dollar and for the global financial markets translated to choppy and two-sided trade for the soybean market early in the session but continued weakness in energy and copper markets helped spark a more negative tone on the global economy as the day progressed. Traders indicated some corn/soybean spread activity which might have pressured the market after the early bounce. News that Taiwan rejected all offers for a tender to buy 40,000-60,000 tonnes of soybeans from South America or the US helped to pressure the market as well. A lack of producer selling and talk that harvest has slowed for Illinois and east helped to provide some support. Rumors that China may have cancelled one or two cargoes of previously booked US soybeans added to the bearish tone.

Bron: CME