Soybean futures dropped 8 to 11 cents on Wednesday morning, closing weaker on Tuesday due to Chinese selling. Preliminary open interest fell by 14,122 contracts. USDA announced 792,000 MT of soybeans sold to China. US soybean harvest at 95%, slightly below average. Brazil’s soybean crop estimated at 177.7 MMT.

Jan 26 Soybeans closed at $11.53 1/2, down 3 3/4 cents. Nearby Cash was $10.80 3/4, down 4 cents. Mar 26 Soybeans closed at $11.60 1/4, down 3 cents. May 26 Soybeans closed at $11.67 1/4, down 2 3/4 cents. Austin Schroeder had no positions in mentioned securities.

Read more at Yahoo Finance: Soybeans Falling Lower on Wednesday AM Trade