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Soybean futures closed around 2 cents lower today, after finishing 10 to 11 1/2 cents higher on Wednesday. Jan16 beans were 15 1/2 cents higher from last Friday. Soy meal lost 60 cents on the week, but soy oil was up 85 points, an increase of nearly 3%. The USDA reported in its weekly Export Sales report that 1.179 MMT of US beans were sold to foreign importers during the week ending November 19. Sales to China totaled only 751,661 MT, down 54% from the previous week, and the smallest weekly total since the week ending October 1. Weekly shipments of 1.913 MMT were the fewest since the week ending October 8. Soybean meal export sales were 247,800 MT, after reporting net sales reductions of 7,100 MT for the 2016/17 marketing year. Soy oil net bookings totaled 12,800 MT.
Jan 16 Soybeans settled at $8.73, down 2 1/4 cents,
Mar 16 Soybeans settled at $8.75 1/2, down 2 1/4 cents,
May 16 Soybeans settled at $8.81 3/4, down 2 1/4 cents,
Jul 16 Soybeans settled at $8.88, down 2 cents,
Dec 15 Soybean Meal settled at $282.40, down $2.40,