November soybeans opened 65 cents lower on the day at 915 and established an early range of 910 to 920. Traders indicate that the sharply lower open this morning came on a toxic combination of a negative Supply and Demand Report prior to the open and spillover selling from the massive break in financial markets. According to floor traders, selling came from all segments of the market - locals, commission houses and funds, and this took soybeans, meal and oil contracts to limit down. The USDA pegged the US soybean yield at 39.5 bushels per acre compared to 40 bushels per acre on the September report. However, planted acreage was revised higher to 77 million acres, up 2.2 million acres last month. This puts the US soybean crop at 2.983 billion bushels versus 2.934 billion bushels last month. This is about 60 million bushels more than traders expected. Ending stocks were raised to 220 million bushels compared to 135 million bushels last month and beginning stocks were raised to 205 million due to the jump already seen on the September Quarterly Stocks Report. Traders expected ending stocks near 185 to 190 million. World ending stocks for the 08/09 season were adjusted higher to 55.24 million tonnes versus 51.23 million tonnes last month and 52.68 million to start this crop year. Brazil and Argentina production were left unchanged. Chinese import demand was also left unchanged. Cash markets are said to be quiet this morning in the face of the massive sell-off in financial markets and the limit down move in soybean futures. Soybean basis levels at the Gulf started the day steady.