Soybean contracts saw a 2 to 3 ¼ cent drop on Tuesday, with the national average Cash Bean price at $10.54 3/4. Soymeal futures fell $1.30 to $3, while Soy Oil futures rose 29 to 35 points. Commitment of Traders data showed spec traders adding 37,720 contracts long, bringing their net long to 35,329 contracts.

European Commission estimates EU soybean imports at 4.97 MMT from July 1 to November 30, a 0.78 MMT decrease from last year. Jan 26 Soybeans closed at $11.24 3/4, down 3 1/4 cents. Nearby Cash was $10.54 3/4, down 3 3/4 cents. Mar and May 26 Soybeans also closed lower.

Limited Chinese buying and quiet USDA flash sale announcements impacted soybean trading. No deliveries were made against December soybean meal overnight, with 123 for bean oil. Visit Barchart.com for more information.

Read more at Yahoo Finance: Soybeans Slip Lower into Tuesday’s Close