Soybean Nov '18 (ZSX18)
Soybean Futures Market News and Commentary
Soybeans are trading with Monday AM losses of 8 to 9 cents. Futures posted 1 to 5 ¼ cent losses across most contracts on Friday. August was down 76 cents on the week, with November dropping 66 cents. November still managed a 43 ¾ cent gain on the month. Open interest on Friday was down just 812 contracts. The cmdtyView national average Cash Bean price was down 7 1/2 cents at $11.41 1/4. Soymeal futures were $1.90 to $3.50 lower across most contracts, with August falling $19.10 on the week. Soy Oil futures were down 11 to 123 points in the front months, with August down 721 points for last week. There were 50 deliveries against August soybeans issued on Friday night, all by the Bunde house account. August bean oil had 627 deliveries issued.
Reports from over the weekend suggest China purchased 14-16 cargoes of US soybeans on Friday.
Commitment of Traders data from Friday afternoon showed spec traders adding another 30,101 contracts to their net long position in soybean fu... Read more
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