July Soybeans finished down 45 at 1333, 44 1/4 off the high and 11 1/2 up from the low. November Soybeans closed down 27 1/4 at 1322. This was 13 1/2 up from the low and 25 off the high.

July Soymeal closed down 11.2 at 338.8. This was 3.5 up from the low and 9.7 off the high.

July Soybean Oil finished down 1.65 at 60.2, 1.63 off the high and 0.68 up from the low.

July soybeans opened lower and traded sharply lower in the first minutes of trade today. The market gradually worked higher through early afternoon but sold off just prior to the close. Meal and oil also closed sharply lower on the day and the November contract again gained sharply on the July contract. Traders indicated that improved crop weather, including a warm up expected by mid week, weighed on soybeans throughout the day. Planted progress is expected to move well over 30% on the afternoon's Crop Progress Report. Argentina was not cited as a major price influence later in the session although reports that farmers may not extend the current strike past May 21st were said to weigh on the market early. This week's export inspections were 8.531 million bushels. Weekly inspections of 8.8 are needed each week to reach the USDA export projection. Total inspections to date stand at 86.9% compared to a 5-year average of 87.2%. Basis levels were weak at the Gulf today and this generated weakness at loading points along the rivers.