Soy prices rallied Thursday closing 12 cents higher. Excellent weekly export sales spurred prices higher. The large sales were 1.35 mmt above expectations of 750 to 1.0 mmt caused the market to rally from the overnight weakness. Total sales to date are 957 mil. bu. vs. 603 mil. bu. last year and current projections of 1.305 bil bu. Meal sales were 358 tmt. were well above analyst expectations too. Talk of the $USD relationship to commodity prices did not impact trade much as the $USD was higher as were bean prices. This is the third day that the $USD has rallied and bean prices have rallied too. Volume on Thursday was heavy. Soybeans traded 150,098, Meal 74,438 and Oil 75,882. Funds were net buyers of an estimated 4,000 Soybeans, 1,500 Meal and sold 1,500 Oil.

Early opening call unchanged to lower. $USD is trading firmer this morning 47 higher with much higher trade overnight. Crude oil is down over $1.00. Overnight Soybeans had a 15 cent range trading as high as 10.50 and as low as 10.35 and broke late into this mornings close. Expectations are for weaker trade with the much stronger $USD and the potential for profit taking after a strong week. Soybeans have gained 51 cents so far this week. The Buenos Aires Grain exchange left its Soybean planting estimates unchanged from last week. They say that soybean planting is estimated at 44% complete vs. 46% last year at this time. Expect selling pressure today up against the 1044 area in Jan Beans. Overnight Chinese , Soybeans and Meal closed higher, Oil lower

Opening call: Soybeans Mixed 2 lower to 2 higher, Meal $ 1.00 to $2.00 lower. Oil .05 to .10 higher.

Top News

-- China announced it will suspend its weekly auctions of Corn and Soybeans on December 1st. The notice said some Corn sales will continue in local consumption areas.

-- Buenos Aires Grain Exchange weekly data keeps 09/10 Corn planted area unchanged in latest week at 1.88 mln ha

-- Buenos Aires Grain Exchange weekly data keeps 09/10 Soybean planted area unchanged in latest week at 19 mln ha

-- USDA's CCC is seeking 13,200 mt of US Soymeal in a tender to close on Nov 23. The meal is for donation to Philippines with shipment from port expected after Dec 26th

-- SGS pegs exports of Malaysian palm oil products in the Nov 1-20 period at 954,652 mt that compares with the same period a month ago when exports were 825,626 mt

-- Intertek placed Nov 1-20 palm oil exports from Malaysia at 930,133 mt a rise of 14.5% from the same period in the prior month

-- Saskatchewan weekly crop report also shows since the beginning of the month, farmers have been able to harvest 17 per cent of the crop. By comparison, only 10 per cent of the provincial crop was harvested in the entire month of October.

-- According to Saskatchewan Agriculture's Weekly Crop Report, Good harvesting weather throughout most of November has allowed Saskatchewan farmers to harvest 97 per cent of the 2009 crop

-- Elevance Renewable Sciences planning 2.6 mil gal/yr pilot plant in Newton, IA, to produce jet fuel and other petroleum-based products from biomass

-- Billed as the first closed-loop ethanol plant in the world, E3 Biofuels' former plant in Mead, NE, will be sold "as is" at auction - E3 declared bankruptcy in late 2007 after the company encountered mechanical difficulties

-- Pending Tender: State run fishery in S Korea is planning ahead for 2010, seeking soybean delivery for 12,000 mt from 2010 soybean crop in a Nov 26 tender deadline. Delivery for the beans is between Dec 2010 to Mar 2011

-- Liffe Feb rapeseed futures were off -0.50 euro at 280.00 euros/mt.

-- Dalian soybean futures tacked on 23 yuan settling at 3,827 yuan/mt basis the Sept contract; Sept soymeal futures were active with 1.6 mln contracts trading up 29 to 2,948 yuan/mt; Soyoil futures slipped 18 yuan

-- Bursa Malaysia active Feb Malaysian palm oil futures contract jumped 48 ringgit/mt to end Friday's session at 2,419 ringgit/mt after better than expected export figures were released

-- Globex Soybean Vol. 137,621; Pit Vol. 8,640; Open Interest Change: + 8,599

-- Weather: 6-10 day Forecast: Normal to Above Temps. Normal to Below Precip.

-- Outside markets: Energy Complex -0.61 at $76.85; Gold & Silver: -3.8 at $1138.1 & -0.225 at $18.230; US $ +0.440 at $75.810

Cash Markets

-- CIF Soybeans steady up 4. LH Nov. +50 to +58, Dec. +60 to +64, Jan. +70 to +72, Feb. +60 to +65,Mar. +30 to +65, April +35 to +45, May +35 to +50