March soybeans lost 6.25 cents on volume of 176,876 contracts. Open interest increased by 3,099 contracts, which in relation to volume is approximately 20% less than average. The March contract, where the bulk of open interest resides lost 750 contracts. Soybeans made a new high for the move at $14.48 in the early going after a blockbuster export sales report. However, the market was unable to hold the high and closed in the minus column. As we have said before, we think the lows are in and that soybeans will trade in a sideways to higher pattern. Soybeans remain on a short and intermediate term sell signal. Stand aside.