Soybeans are trading 3 to 8 cents higher so far on Monday morning. Futures closed the Friday session with 5 ¾ to 12 ¾ cent gains, as May was 24 cents higher last week. November was up 27 cents on the week. Preliminary open interest suggested new buying interest, up 10,854 contracts on Friday. The cmdtyView national average Cash Bean price was up 13 1/2 cents at $11.37 3/4. Soymeal futures were steady to $2.10 higher, with May the exception, down $1.50, as May was down $3.50 on the week. Soy Oil futures were 29 to 93 points higher on Friday, as May was 474 points in the green last week. There were 309 deliveries issued against May soybeans on Friday night, with 29 for May bean oil.
Commitment of Traders data showed speculators in soybean futures and options trimming 7,602 contracts from their net long position as of April 28, taking the position to 185,282 contracts. Bean oil extended their record net long by 281 contracts to 165,725 contracts.
