CBOT soy ends nearly flat, early gains pared

CHICAGO: Chicago Board of Trade soybean futures closed nearly flat on Wednesday with early gains pared on pressure from falling corn futures and hesitant new net buying amid continued global economic uncertainty.

* Volume was the lowest in over four months, according to Reuters data.

* Informa Economics pegged 2011 US soybean production and yield above expectations.

* Traders said there was talk that China bought 2-4 cargoes of US soy. Cash soybean markets were firm.

* Deliveries on the November contract 401 contracts. ABN Amro customer issued 310, Tenco customer stopped 218 and Term house stopped 165. Strong commercial stopping of the deliveries.

* Intl FC Stone pegs 2011 US soybean production 3.109 billion bushels, above USDA's current forecast for 3.060 billion. USDA will release its next production forecast on Nov. 9.

* Malaysian palm oil futures climbed 1.2 percent on Wednesday as traders looked to a developing La Nina weather pattern that could curb production of the tropical oil.

* Greece's prime minister faces a grilling from the leaders of Germany and France on Wednesday after fighting to win the backing of his cabinet to hold a referendum on a $178 billion bailout package.

* MF Global Holdings Ltd failed to protect customer accounts be keeping them separate from its own funds, said a top US exchange regulator, another shock for commodity markets scrambling to contain fallout from the brokerage's bankruptcy.

* January below all key moving averages and the nine-day RSI at 36.

1:26 PM CDT