Soybean Oil May '16 (ZLK16)

Soybeans fell lower into the weekend, with contracts 15 to 17 cents lower on Friday. Weekly losses were 28 cents in the January contract. The cmdtyView national average Cash Bean price was 17 cents lower at $10.06 1/2. Soymeal futures were 40 cents to $1.80 higher in the front months and lower in the deferreds, with January closing the week down $4.90. Soy Oil futures were 55 to 83 points lower, as Jan was down 162 points this week. 

A private export sale of 132,000 MT was reported to China by USDA this morning. Known China purchases (via daily flash sales and weekly data) have accumulated 3.5 MMT. Another sale was reported for soybean meal totaling 104,328 MT to Mexico, with 93,895 MT for the current marketing year and 10,433 MT for the next MY.

Commitment of Traders data was updated this afternoon for the week ending on November 18, with spec funds adding 35,182 contracts to their net long position. That position was 229,625 contracts net long by that date, the largest... Read more