The CBoT reopens at 8:30 am CST, with soybean futures up 11 to 14 cents. Open interest dropped by 4,814 contracts, indicating short covering. The national average Cash Bean price rose to $9.92 3/4. Soymeal futures gained $3 to $3.80, while Soy Oil futures were up 65 to 74 points.

USDA reports soybean export sale commitments at 25.778 MMT, down 33% from last year. This represents 58% of USDA’s projection, falling short of the 79% average pace.

Buenos Aires Grains Exchange data shows 75.5% of soybean crop planted, below average. Condition ratings at 67% good/excellent, 5 points higher than last year.

Soybean prices closed at $10.63 1/4 on Jan 26, with nearby Cash at $9.92 3/4. March 26 Soybeans closed at $10.76 1/2, and May 26 Soybeans closed at $10.87 1/2.

Read more at Yahoo Finance: Soybeans Look to Post Christmas Trade Following Gain on Wednesday