Soybeans are trading higher on Wednesday, with gains of 10 to 12 cents across most contracts in preparation for the Thursday holiday. The national average Cash Bean price is up 10 1/4 cents at $9.90. Soymeal futures are also up, while Soy Oil futures have seen an increase of 60 to 66 points. Markets will close early today with the next open on Friday at 8:30 am CST.

USDA reports export sale commitments for soybeans at 25.778 MMT, down 33% from last year at the same period. This represents 58% of USDA’s export projection and is below the 79% average pace.

Managed money has decreased their net long position in soybeans by 32,560 contracts to 147,778 contracts for the week ending on 12/16, according to Commitment of Traders data from Tuesday afternoon.

Buenos Aires Grains Exchange data indicates that 75.5% of the soybean crop has been planted, below the average pace. Condition ratings are at 67% good/excellent, which is 5 points above last year’s ratings.

Jan 26 Soybeans are at $10.61 3/4, Nearby Cash is at $9.90, Mar 26 Soybeans are at $10.75 1/4, and May 26 Soybeans are at $10.86 1/4.

Read more at Yahoo Finance: Soybean Bulls Getting Early Christmas Present on Wednesday