November soybeans opened 17 cents lower on the day at 879 and established an early range of 871 to 887 1/4. A mixed market overnight has turned into a substantially lower market this morning. Traders are crediting the selloff to new lows in crude oil and another selloff in stocks this morning with soy oil losing sharply to meal following the break in crude and the sharp overnight losses in palm oil. The selling has been general so far according to floor traders with volume described as above average on the early break. The USDA reported a sale of 120,000 tonnes of soybeans to an unknown destination this morning. By way of contrast, traders in export markets report lower barge freight levels on the river system again today as those rates continue to back off from record levels about two weeks ago. This is coming amid light demand and the combination is adding a weak tone to soybeans. Cash traders are reporting more fears of the potential for defaults on trades in export markets. This has been a problem in palm oil since mid summer with unconfirmed reports of defaults in soybeans also heard since July.