Soybeans Close with Weakness on Wednesday

Group 1 - Soybeans experienced losses of 3 to 4.5 cents at the close, with the national average Cash Bean price down by 5 cents to $9.87 1/4 [1] - Soymeal futures declined by $4.10 to $5.20, while Soy Oil futures remained steady or increased by up to 16 points [1] - The USDA reported private export sales of 198,000 MT of soybeans to China and 125,000 MT to unknown destinations [1] Group 2 - Managed money added 1,137 contracts to their net long position, bringing the total to 215,428 contracts in soybean futures and options as of the week ending on December 2 [2] - ANEC estimates Brazilian soybean exports for December at 3.57 MMT, reflecting a 0.24 MMT increase from the previous week's estimate [2] - Closing prices for January 26 Soybeans were $10.58 1/4 (down 4.5 cents), Nearby Cash at $9.87 1/4 (down 5 cents), March 26 Soybeans at $10.68 3/4 (down 3 cents), and May 26 Soybeans at $10.80 (down 3 cents) [2]