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Soybean futures closed mostly 14 cents lower on the day, and Nov futures lost 28 cents on the week, or 2.87% on the week.Soybean export sales commitments (shipments and contracts) already cover 55% of the USDA forecast for the year. They are well ahead of the 48% average for this date. The US Dollar index was up more than 400 points today and testing some multi-year resistance. USDA announced another 1.236 MMT of export sales to China under the daily reporting system. These are likely part of the 4.8 MMT deal announced earlier in the week. The Friday night CFTC report shows the large spec funds getting less bearish by 6,057 contracts last week.
Nov 14 Soybeans closed at $9.57, down 14 1/2 cents,
Jan 15 Soybeans closed at $9.65 1/4, down 14 1/4 cents,
Mar 15 Soybeans closed at $9.72 3/4, down 14 1/4 cents,
May 15 Soybeans closed at $9.79 1/2, down 14 3/4 cents,
Oct 14 Soybean Meal closed at $324.10, down $4.70,