Soybeans closed down 10 to 13 cents on Tuesday, with 204 deliveries issued overnight. Cash bean price was $10.46 1/2. Soymeal futures fell $3.80 to $4.50, and Soy Oil futures were 18 to 31 points lower.

Brazilian FOB offers are more competitive due to the US market rally, attracting Chinese buyers. With the government shutdown, the market is unsure of China’s US business. Basis movement suggests buyer activity in North and PNW.

Bangladesh will increase US soybean and meal purchases to $1.25 billion over the next year, nearly tripling last year’s purchases.

S&P Global estimates US soybean yield at 53 bpa, with production at 4.26 bbu. USDA data is expected on Friday, November 14.

EU soybean imports are 3.81 MMT since July 1 to November 2, down 0.78 MMT from last year. Nov 25 Soybeans closed at $11.08 1/4, Cash at $10.46 1/2, Jan 26 Soybeans at $11.21 1/2, Mar 26 Soybeans at $11.27 3/4.

Read more at Yahoo Finance: Soybeans Pop into the Close, Still Correct Lower on Tuesday