November soybeans opened 8 cents higher on the session at 1506 and established an early range of 1480 to 1509 3/4. Soybeans opened higher in line with overnight action and sold off into the early mid session along with corn. Meal and oil traded in rough parity in early trade. Floor traders say that favorable weather forecasts for the next week are still a drag on the market, although growing areas in the Delta have been hot and dry for an extended period which is stressing the crop there. Forecast calls for another week of the same. Argentina may also be providing some support. Sources there say that the export taxes that were rejected by the Senate vote this week are still in effect on the ground, raising questions about what the government plans to do next. China is rumored to have bought soybeans out of the Pacific Northwest this week. Basis levels at the Gulf are steady to weak this morning with softening export demand. Traders point out that Gulf freight rates to East Asia are still running at a disadvantageous premium to the Pacific NW. Taiwan passed today on a tender for up to 60,000 tonnes of soybeans from either South America or the US citing high prices.