Soybean futures closed higher on Tuesday, with prices up 1 to 3 cents. The national average Cash Bean price rose 1 3/4 cents to $10.52. USDA reported lower-than-expected bean sales at 785,003 MT, a 53.9% decrease from last year. Meal sales were 358,406 MT, bean oil sales at 1,924 MT.

Speculators held a net short position of 391 contracts in soybeans as of 10/14, with a small increase from the previous week. ANEC predicts Brazilian soybean exports for November at 4.4 MMT, down 0.31 MMT from previous estimates. Jan 26 Soybeans closed at $11.24 3/4, up 1 1/2 cents. Mar 26 Soybeans closed at $11.34 3/4, up 2 3/4 cents. May 26 Soybeans closed at $11.45, up 3 cents.

Read more at Yahoo Finance: Soybeans Pop Higher on Tuesday