November Soybeans finished down 12 at 992, 31 3/4 off the high and 1 up from the low. January Soybeans closed down 12 1/4 at 1008 1/2. This was 2 1/2 up from the low and 30 1/2 off the high.

December Soymeal closed down 4.7 at 269.8. This was 0.3 up from the low and 8.8 off the high.

December Soybean Oil finished down 0.68 at 42.5, 1.27 off the high and 0.02 up from the low.

The soybean market opened slightly lower this morning and rallied into early mid session. Prices eased across the complex into early afternoon with the November contract taking out yesterday's lows prior to the close. Outside markets were a less significant factor today with crude oil and the dollar seeing mixed results over course of the session. Traders said that the higher stock market today and the passage of the financial rescue package by the House of Representatives helped to stem the tide of heavy liquidation that took markets sharply lower yesterday. Funds were buyers of about 2000 contracts in soybeans today and sellers of as much as 1000 oil. Farmers in Argentina started an expected 6-day strike today by stopping sales of livestock and grain. The strike action is in protest of various national policies including export taxes, and this restarts a standoff with the President that paralyzed the Argentine farm sector during late winter and most of spring. China has been on the sidelines in all markets this week due to their Autumn Festival holiday. Traders expect that they will return to soy complex markets on Monday. Taiwan is looking to buy as much as 60,000 tonnes of US soybeans for shipment during the first half of November. They are reportedly looking for point of origin at the US Gulf. Cash market sources say that sharp drops in both soy complex futures markets and in ocean freight rates have made US soybeans shipped from the US Gulf to China competitive with South America. Basis levels were steady at the Gulf to start the day after rising yesterday amid the big slide in soybean futures.