November soybeans opened 13 1/2 cents higher on the day at 941 1/2 and established an early range of 916 to 942. Prices traded higher overnight and this brought the higher open to the day session. However, soybeans sold off almost immediately after the open on pressure from a locals and funds. This took soybeans and oil lower into early mid session with meal gaining on oil in the process. Traders said that soybeans were following crude oil in the early going. This week's export inspections for soybeans were 13.237 million bushels. Cumulative inspections stand at 4.5% of the projected total compared to a 5-year average of 8.9%. Inspections need to average 21.463 million bushels each week to reach the USDA projection for the current marketing year. Brazil officials indicate that 5% of the soybean crop is planted in the key growing state of Mato Grosso versus an average of 2%. China announced record soybean imports for the month of September earlier today. China's cumulative soybean imports for January through September, 2008 stand at 29.7 million tonnes, up 32.2% from the same period in 2007. The National Oilseed Processors Association (NOPA) crush for the month of September came in at 120.4 million bushels which was slightly below trade expectations. Oil stocks were a bit higher than expectations at 1.988 billion pounds. Harvest progress will be out this afternoon and traders expect soybeans to be over 50%. Trade at the Gulf is said to be quiet this morning with steady basis levels as most importers are thought to be on the sidelines.