At the close the soybean market was 1% to 1.5% higher. March rallied 23 1/4 cents to a 10 1/2 cent gain for the week. Meal prices bounced for a close of $1.90 to $3.90 gains. That left March $2.90 higher for the week. Soybean oil closed up by 2.5% for the last trade day of the week, for a $1.48 gain for the week in the March contract.Â
The CFTC will again not have CoT data released after the close. No announcements have been made regarding when the report will resume.Â
Weekly soybean export sales were 459,443 MT according to USDA’s FAS. Old crop commitments were 1.754 bbu, or 88% of USDA’s forecast. New crop commitments were at 903k MT, or 80% behind last year's forward sale pace.Â
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Mar 23 Soybeans  closed at $15.42 1/2, up 23 1/4 cents,
Nearby Cash  was $14.97 3/8, up 22 1/4 cents,
May 23 Soybeans  closed at $15.33 1/2, up 21 3/4 cents,
Jul 23 Soybeans  closed at $15.22 1/2, up 19 3/4 cents,
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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