January Soybeans finished down 4 1/2 at 902, 11 off the high and 9 1/2 up from the low. March Soybeans closed down 5 1/4 at 910 1/4. This was 8 1/4 up from the low and 12 1/4 off the high.

March Soymeal closed down 3.6 at 272.0. This was 0.5 up from the low and 4.7 off the high.

March Soybean Oil finished down 0.04 at 33.09, 0.19 off the high and 0.52 up from the low.

Traders said that outside markets provided much of the direction in soybeans today although there was a decided lack of follow through in either direction. Funds were said to be on both sides of the market in soybeans, meal and oil. Volume was light today and that was thought to add to the effect of outside markets on price movement. Trade was 2-sided again with an early break followed by a rally into mid morning. Prices then moved lower again into early afternoon before firming slightly into the close. Mostly dry weather across the Midwest this week and into the weekend should allow the soybean harvest to near completion. Weather in South America was also said to be a factor today. Dryness in Argentina continues to cause delays in planting of soybeans and corn as well as stressing fields that are already planted. Soybean planting starts later than corn there as is the case in the US, but about 40% of the crop is in the ground according to local sources. Conditions in Brazil are more favorable. Basis levels at the Gulf were steady this morning as shippers fulfilled earlier orders from China.