November soybeans opened 3 cents lower on the session at 1545 and established an early range of 1491 1/4 to 1553 3/4. A lower open attracted heavy selling in soybeans. Traders indicated that selling included profit-taking or liquidation that came in response to a wet weather forecast over the next 3-5 days for the US Midwest. Selling also came in response to the Argentine Senate's rejection of the President's controversial export tax proposal on soybeans and other commodities. The Senate vote was a surprise to many traders and may have generated further profit-taking and liquidation from yesterday's sharp rally. This week's Export Sales Report showed somewhat disappointing numbers for soybeans and meal. Net old crop sales for soybeans were 63,500 tonnes with net new crop sales at 39,000 tonnes. Sales have already exceeded the USDA's projection for the current marketing year. Total sales to date for soybeans stand at 101.9% of the projected total compared to a 5-year average of 100.7%. In oil, net old crop sales were 5,900 tonnes with net new crop sales at zero. Weekly sales of 29,000 tonnes are needed to reach the USDA projection. Total soy oil sales to date stand at 76.5% of the projected total compared to a 5-year average of 64.8%. In meal, net old crop sales were 61,200 tonnes with net new crop sales at zero. Sales of 94,100 tonnes are needed each week to reach the USDA projection. Total sales of meal to date stand at 87.1% of the projected total compared to a 5-year average of 84.5%. A private firm in Taiwan is expected to tender for 30-60,000 tonnes of soybeans on Friday. Cash markets are quiet and mostly steady.