Soybeans took back the Thursday losses on Friday, with gains of 12 to 14 ¾ cents. September rounded out the week with a 54 ½ cent gain, as November was up 55 cents. The cmdtyView national average Cash Bean price was up 12 1/2 cents at $9.77 3/4. Soymeal futures were back down $1.10 in the front months on the day, as September was up $6.80 this week. Soy Oil futures were back up 100 to 117 points, with September up 47 since last Friday week.
Friday afternoon’s Commitment of Traders report indicated 30,660 contracts cut from the net short position in soybean futures and options as of 8/12, taking it to 35,270 contracts net short.
