Soybeans are trading with Monday morning gains of 9 to 11 cents. Futures were down 9 to 17 cents across the board on Friday, as November held on for a 7 cent gain for the week. Open interest was down 10,591 contracts, mainly in the nearbys, suggesting some length was coming off. That is being upt back on this morning. The cmdtyView national average Cash Bean price was down 16 1/4 cents at $12.44 1/4. Soymeal futures were back down $7 to $14.10 in the front months, with October posting a $7.80 gain last week. Soy Oil were down 89 to 129 points on Friday, with October down 149 points last week.
CFTC data from Friday showed managed money backing off from their previous record net long in soybean futures and options by 21,321 contracts in the week of 9/15 to 244,710 contracts.
