January Soybeans finished down 41 at 856, 35 off the high and 1 1/2 up from the low. March Soybeans closed down 41 1/2 at 862 3/4. This was 1 1/2 up from the low and 34 3/4 off the high.

March Soymeal closed down 11.7 at 260.7. This was 0.2 up from the low and 10.6 off the high.

March Soybean Oil finished down 1.36 at 31.41, 1.29 off the high and 0.47 up from the low.

The soybean complex opened sharply lower this morning and chopped sideways into mid session. January soybeans made a new high for the session in late morning and then sold off into new low ground prior to the close. January meal also made a new low for the day while January oil held its lows. Funds were sellers in all markets today. Traders credited the overall weakness to a general selloff based on renewed fears of economic slowing, with this morning's jobless claims adding to the concerns. However, export sales were unexpectedly strong again in soybeans with the lion's share of the demand coming from China. This week's net sales for soybeans came in at 790,900 tonnes. As of November 13, cumulative sales stand at 59.1% of the USDA forecast for 2008/09 versus a 5 year average of 55.1%. Sales need to average 272,000 tonnes each week to reach the USDA forecast. Net meal sales came in at 92,300 tonnes. Cumulative meal sales stand at 34.2% of the USDA forecast for 2008/09 versus a 5 year average of 39.1%. Sales need to average 112,000 tonnes each week to reach the USDA forecast. Net oil sales came in at 7,900 metric tonnes. Cumulative oil sales stand at 18.0% of the USDA forecast for 2008/09 versus a 5 year average of 28.6%. Sales need to average 19,000 tonnes each week to reach the USDA forecast. Basis levels were steady at the Gulf this morning with continued strong demand from China being reported by traders.