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Barchart

Austin Schroeder

FOUND: Soybeans post strength on friday - What They Never Told You

Soybeans posted 4 to 5 cent gains across most contracts on Friday, as March was down just 4 ¾ cents on the week. The cmdtyView national average Cash Bean price was 5 1/4 cents higher at $9.87 1/4. Soymeal futures up 80 cents to $2.40 higher, despite March falling $13.70 this week. Soy Oil futures were down 18 to 36 points on Friday, with the weekly move 292 points higher. The markets will be off on Monday for the Martin Luther King Jr. Day holiday. They will open back up on Monday evening.

The weekly Commitment of Traders report on Friday afternoon showed spec traders in soybean futures and options slashing another 44,756 contracts from their net long to 12,961 contracts as of 1/13.

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