Soybean prices are slipping back, with losses of 4 to 6 cents. The national average Cash Bean price is $10.49 1/2. Soymeal futures are up 20 cents to $1.30, with Soy Oil futures 75 points higher. Deliveries issued against December soybean meal and bean oil.

Treasury Secretary Bessent confirmed China’s progress on soybean purchases. Over 2.25 MMT commitments have been made, with the 12 MMT expected to be completed by the end of February. USDA will update Export Sales reports on Thursday, with traders expecting soybean bookings.

Spec traders increased long positions by 37,720 contracts. Net long positions now at 35,329 contracts. Soybean prices: Jan 26 at $11.20 1/2, Cash at $10.49 1/2, Mar 26 at $11.30 1/2, May 26 at $11.39 1/2. No positions in securities mentioned.

Read more at Yahoo Finance: Soybeans Heading Lower at Midday