Soybeans closed lower on Tuesday, with contracts down 4 to 5 ¾ cents. The national average Cash Bean price was $9.82 3/4. Soymeal futures were up in the front months and down in deferred contracts. Soy Oil futures were also lower.

USDA reported a private export sale of 190,000 MT of soybean meal to the Philippines.

Brazilian soybean harvest is estimated at 2% complete, with estimates for January exports at 3.79 MMT. ANEC reported a 0.06 MMT increase from last week.

On Monday, the Export Inspections report showed 1.34 MMT of soybeans shipped in the week of 1/15. China was the largest destination, with a marketing year total now 40.2% below last year.

Soybean prices closed slightly lower, with Mar 26 Soybeans at $10.53, Nearby Cash at $9.82 3/4, May 26 Soybeans at $10.64, and Jul 26 Soybeans at $10.76 1/4.

Read more at Yahoo Finance: Soybeans Ticking Higher at Tuesday’s Midday