Soybeans posted Friday gains of 6 to 9 cents in the nearbys, as August was up 23 ½ cents over the course of the week. The cmdtyView national average new crop Cash Bean price was up 7 ¾ cents today at $9.90. Soymeal futures were $5.30 higher, as August was up $3.70 this week. Soy Oil was 40 to 42 points lower in the front months, with the weekly move of 207 points higher.
Spec traders in soybean futures and options were shifting to a more bearish attitude in the week that ended on July 15, adding 26,062 contracts to their net short position to 32,278 contracts. In soybean meal, managed money was adding to their record net short by 1,537 contracts to 133,016 contracts.
