Soybean futures held support while export sales disappointed.

January Soybean futures managed a second day of gains, closing above the 50-day moving average despite a weak recovery from recent slides. Technical traders are monitoring a downside gap between 1,070.5 and 1,063 as a potential target. Weekly export sales were disappointing at 696,000 metric tons, landing at the low end of expectations with a cancellation from China, though daily flash sales of 264,000 metric tons to China provided some support. The market is now weighing whether China's 12 million metric ton target will meet USDA full-year estimates while shifting focus to South American weather patterns.