Soybean futures are down 2 to 4 cents on New Years Eve due to weakness in trading. Open interest dropped by 16,065 contracts, with 1,062 deliveries issued for January beans. The national average cash bean price fell to $9.80. Meal futures remained steady, while soy oil futures saw an increase.

The market will be closed on New Years Day, with trading resuming at 8:30 am CST on Friday. USDA will release weekly updates today, with soybean sales expected to be between 1.4 to 2.4 MMT. Meal sales are projected to be between 200,000-500,000 MT, and soy oil sales between 0-24,000 MT.

Brazilian soybean exports are estimated at 3.02 MMT, a decrease of 0.55 MMT from last year. Jan 26 soybeans closed at $10.46 1/4, down 3 1/4 cents. Nearby cash prices were $9.80, down 3/4 cent. Mar 26 soybeans closed at $10.62 1/4, down 1 1/4 cents, and May 26 soybeans closed at $10.74 1/2, down 3/4 cent.

Read more at Yahoo Finance: Soybeans Falling to Kickoff New Years Eve