November Soybeans finished down 38 at 858, 53 off the high and 11 1/2 up from the low. January Soybeans closed down 38 3/4 at 872 1/2. This was 11 1/2 up from the low and 53 1/2 off the high.

December Soymeal closed down 3 at 244.5. This was 6.2 up from the low and 9.9 off the high.

December Soybean Oil finished down 2.47 at 35.53, 2.67 off the high and 0.03 up from the low.

A lower open brought selling by locals, funds and commission houses today and soybean prices continued to erode throughout the session. Oil hit limit down late in the session while meal finished marginally lower. Traders said that volume was good on today's declines and noted that the losses in soy oil came on lower crude and a sharp decline overnight in Malaysian palm oil. The USDA reported a sale of 120,000 tonnes of soybeans to an unknown destination this morning. By way of contrast, traders in export markets report lower barge freight levels on the river system again today as those rates continue to back off from record levels about two weeks ago. This is coming amid light demand and the combination is adding a weak tone to soybeans. However, farmer selling continues to be light according to cash market sources. Cash traders are also reporting more fears of the potential for defaults on trades in export markets. This was been a problem in palm oil during late summer with unconfirmed reports of defaults in soybeans also heard since July.