November Soybeans futures closed up 3 1/2 at 1009, 1 1/2 off the high and 8 1/4 up from the low. December Soymeal futures finished up 2.5 at 296.1. This was 3.5 up from the low and 0.1 off the high. December Soybean Oil futures closed up 0.08 at 40.2, 0.09 off the high and 0.38 up from the low.

November soybeans witnessed choppy trade in a relatively narrow range today. The market moved higher overnight but sold off to start the day session. However, sell orders dried up amid quiet trade and the November contract recovered to finish the day with a modest gain. Meal and oil also recovered into the close with meal leading the way. This week's export sales came in slightly below trade expectations in soybeans and soy oil and about in line in meal. Net sales for soybeans came in at 900 tonnes for the 2009/10 marketing year and 613,000 for the crop year that started on September 1st. This left total sales at 613,900 tonnes. Sales need to average 448,000 tonnes each week to reach the USDA forecast. Net meal sales came in at 156,000 tonnes for the current marketing year and 222,400 for next year for a total of 378,400. The 2010/11 marketing year starts one month later for meal and oil on October 1st. Sales need to average 171,000 tonnes each week to reach the USDA forecast for the remainder of the crop year. Net oil sales came in at 7,900 tonnes for the current marketing year and 4,400 for next year for a total of 12,300. Sales need to average 2,000 tonnes each week to reach the USDA forecast. The USDA announced a sale of 100,000 tonnes of soybeans to Egypt this morning for delivery during the 2010/11 crop marketing year. This is the second such sale in recent weeks, and it points to the recent overall improvement in the US competitive position in the big import markets of the Middle East. The Census Bureau released its soy oil stocks as of the end of July. They stood at 3.548 billion pounds, down slightly from the previous month's total of 3.553 billion but up from 3.330 at the same point last year.