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Soybean futures on Wednesday were 10 to 11 1/2 cents higher, ignoring the USD that traded around 225 points higher. Nearby Jan and Mar16 were the strongest, as Jan16 has posted a 32 3/4 cent trading range over the last three days. The weekly Export Sales report will be delayed until Friday morning. Private exporters announced to the USDA that 190,000 MT of US soybeans were sold to unknown destinations Wednesday morning for 2015-16 delivery. The national average soybean basis as of the Tuesday close was unchanged for the third consecutive day at -$0.45 according to DTN. The basis was 5 3/4 cents stronger than last year at this time.
Jan 16 Soybeans settled at $8.75 1/4, up 11 1/2 cents,
Mar 16 Soybeans settled at $8.77 3/4, up 11 1/2 cents,
May 16 Soybeans settled at $8.84, up 11 3/4 cents,
Jul 16 Soybeans settled at $8.90, up 11 3/4 cents,