Soybeans closed lower on Wednesday, with prices down 3 to 4 ½ cents. The national average Cash Bean price was $9.87 1/4. Soymeal futures also saw losses. USDA reported private export sales of 198,000 MT to China and 125,000 MT to unknown destinations. Managed money increased net long positions in soybean futures and options by 1,137 contracts, bringing the total to 215,428 contracts. ANEC estimates Brazilian soybean exports for December at 3.57 MMT, up from last week. Jan 26 Soybeans closed at $10.58 1/4, down 4 1/2 cents. Cash was $9.87 1/4, down 5 cents. Mar 26 Soybeans closed at $10.68 3/4, down 3 cents. May 26 Soybeans closed at $10.80, down 3 cents.

Read more at Yahoo Finance.: Soybeans Close with Weakness on Wednesday