Soybeans failed to see much buying following the phone call between President Trump and xi of China this morning, as futures held the 10 to 12 cent losses into the close. November lost 20 3/4 cents this week. The cmdtyView national average Cash Bean price was down 11 3/4 cents at $9.49 1/4. Soymeal futures were a dime to 50 cents lower in the nearby contracts, with October down $4.70 on the week. Soy Oil futures were down another 54 to 60 points on the day, as October fell 164 points this week.
Weekly CFTC data indicated managed money flipping back to a net long of 2,287 contracts as of September 16th. That was a move of 17,001 contracts to the long side during the course of that week. Commercials increased their net short position by 16,603 contracts to 119,674 contracts.
