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Soybean futures finished the day mostly 2 to 4 cents lower after January was down as much as 12 cents on the day earlier in the session. Nearby December meal saw some support from the shorts scrambling to exit ahead of December deliveries. There are currently no receipts registered for delivery against Dec meal. The USDA attaché in Brazil lowered its estimate for Brazilian soybean production to 92 MMT from 94 MMT previously.China bought another 120,000 MT of soybeans for 2014/15 delivery, as announced by USDA under the daily reporting system. This ran counter to other market “talk” that crush margins on imported beans had turned negative in China.
Jan 15 Soybeans closed at $10.47, down 4 cents,
Mar 15 Soybeans closed at $10.52 3/4, down 3 1/2 cents,
May 15 Soybeans closed at $10.58 3/4, down 2 1/2 cents,
Jul 15 Soybeans closed at $10.63, down 2 1/4 cents,