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"Prices were mostly higher with beans up $.03-$.08 ending a run of 8 consecutive lower closes, meal was steady to $1 lower while oil was up 80 points. The early surge in Nov-26 soybeans stalled just below its 50-day MA at $12.61 ½. Support below the market is at $12.28. Yesterday Dec-26 meal rejected trade below its 50-day MA. Crush margins were down $.02 at $2.45 bu. with bean oil PV up to 49%. Soybean O.I. plunged just over 17k contracts yesterday, meal was down 5.7k while oil was up just over 4k contracts. China’s Sinograin will auction off another 512k mt of soybeans from Govt. reserves next Tuesday. U.S. exports at 104 mil. were at the high end of expectations and the highest weekly total in nearly 3 years,” wrote Mark Soderberg with ADM Investor Services.





