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Soybean futures finished the session with losses of 6 to 8 3/4 cents. September futures lost 36 1/4 cents or 3.66% on the week. Prices found pressure from a higher US Dollar, and ideas that the US crop will keep getting bigger with plenty of moisture in most of the major growing areas during much of August. PFA Tour updates from IA number came out last night (1224.28 per sample) is 10.6% larger than the 3 year average. The MN pod count was up 10% vs. the 3 year average. These samples do not take into account grain weight per pod, which is a key yield variable. It is too early. Weekly CFTC data in the Commitment of Traders report showed managed money accounts with a net long position that was net 25,398 contracts larger than it was a week earlier.
Sep 16 Soybeans settled at $9.90 3/4, down 7 1/2 cents,
Nov 16 Soybeans settled at $9.67 1/4, down 8 1/4 cents,
Jan 17 Soybeans settled at $9.69 3/4, down 7 3/4 cents,
Mar 17 Soybeans settled at $9.70 1/2, down 6 cents,
Sep 16 Soybean Meal settled at $321.20, down $3.10,