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Soybean futures ended Thursday 8 to 10 3/4 cents in the red, with Jan back below the $10 mark. December meal was down $6.90/ton, with nearby bean oil 16 points higher. A sharp sell off in Chinese soybean futures took some of the blame. This morning’s Export Sales report showed 2017/18 sales blowing past expectations at 2.016 MMT. That was more than double the previous week’s sales and 51.8% larger than the same week last year. China was the primary buyer at 1.293 MMT, with 447,000 MT switched from Unknown. There were also sales of 70,352 MT for 18/19. Soybean shipments totaled 2.018 MMT, with nearly 1.271 MMT going to China. That was down 8.4% from the prior week and 12.7% lower than the same week in 2016. Soy meal sales for 17/18 ran 166,428 MT and 20,000 for 18/19 during the week of Nov 30, as soy oil sales totaled 21,029. The BAGE shows the soybean crop at 53.2% planted in Argentina, 4.5% lower than last year at this time.

Jan 18 Soybeans closed at $9.92, down 10 3/4 cents,

Mar 18 Soybeans closed at $10.04 1/4, down 10 1/2 cents,

May 18 Soybeans closed at $10.14 3/4, down 10 1/2 cents,

Aug 18 Soybeans closed at $10.24, down 10 cents,

Dec 17 Soybean Meal closed at $333.50, down $6.90,

Dec 17 Soybean Oil closed at $33.25, up $0.16

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