Soybeans are up fractionally to 1 ¾ ents on Monday morning. Futures fell lower into the weekend, with contracts 15 to 17 cents lower on Friday. Weekly losses were 28 cents in the January contract. Open interest on Friday was down 3,284 contracts. The cmdtyView national average Cash Bean price was 17 cents lower at $10.06 1/2. Soymeal futures were 40 cents to $1.80 higher in the front months and lower in the deferreds, with January closing the week down $4.90. Soy Oil futures were 55 to 83 points lower, as Jan was down 162 points this week.
We will get another backlogged update to the Export Sales report shortly. Traders are looking for 0.8-3 MMT in soybean sales for the week of November 20. Meal sales are estimated at 100,000-450,000 MT, with 5,000-25,000 MT for bean oil.
