November soybeans opened 17 1/2 cents higher on the day at 1362 and established an early range of 1327 1/2 to 1371. Prices started higher for soybeans following the higher levels in the overnight session. Meal and oil were also higher to start the day, but all three markets sold off to lower levels into mid session. Spread trade was said to be active in meal versus oil to start the day. Weather is still thought to be a very important factor and significant rain has moved through much of Minnesota and Iowa in recent hours registering moderate to heavy amounts. Southern and eastern Ohio also got good coverage overnight with moderate to scattered heavy rainfall from the system that is the remnant of Tropical Storm Fay. Initially this morning, the market stayed higher despite this unexpected and relatively ample rain in areas that have been stressed in recent weeks. Floor traders said that the sharp rally in crude oil and a lower dollar helped to support the market in spite of the rain. However, this proved temporary. There has also been additional beneficial rain in oilseed areas of central and NE China. Basis levels in the interior US were steady to firm this morning.