The soy futures complex closed the Wednesday session in the red. Soybean futures gave back 10 to 12 cents in the front months. New crop November is now a $2.35 discount to in deliveries Jan. CME Group reported 11 more Jan bean deliveries, totaling 283 contracts MTD. The Jan soy contracts expire tomorrow, there have still been no reported deliveries against meal or oil. Meal prices closed $4.80 to $8.80/ton weaker. Soy oil futures ended the session down 43 to 45 points. USDA announced a private export sale of 464,300 MT of soybeans to unknown – split 396,300 old crop and 68,000 for new crop. Ahead of the weekly Export Sales report, analysts expect between 300,000 and 700,000 MT of old crop bean sales. New crop sales are expected between 100k and 500k MT. For soymeal, trade is looking for 100-300k MT of bookings on the week ending 1/7. Soy oil sales are estimated between 5,000 MT and 30,000 MT. CONAB revised their Brazilian bean output 0.76 MMT lower to 133.69 MMT. Mato Grosso production was down 1.52 MMT from December. USDA left Brazilian bean output at 133 MMT in their Jan estimate. 

--- provided by Brugler Marketing & Management