Soybeans posted slight losses on Friday, with contracts steady to 2 ¼ cents in the red. Jule was down 8 cents on the week, with November slipping 5 ½ cents. The cmdtyView national average Cash Bean price was down a penny at $10.60 1/2. Soymeal futures were mixed, down a 40 cents to a 50 cents higher on the day, with July down $7.20 this week. Soy Oil futures were 17 to 53 points lower, as July was 16 points higher since last Friday.
Weekly Commitment of Traders data from CFTC showed spec funds with the largest Tuesday/Tuesday bear move in the report’s history back to 2006, of 65,294 contracts. The net long was still at 90,756 contracts on Tuesday. Managed money was in a similar liquidation even in the soybean meal market, slashing 74,468 contracts from their net long to 52,602 contracts by Junte 9.
