Front month soybean futures ended the last trade day of the week with 2 1/4 to 9 cent gains – led by new crop. May beans expired 17 1/2 cents above July at $16.03 3/4. Meal futures closed the session in the red, with losses of $2.70 to $2.90/ton. May meal expired at $423.50. Soybean oil futures closed 152 to 180 points higher, more than making up for the Thursday losses. May soy oil rolled off the board at 68.41 cents/lb.
Dalian No2 Soybean Prices were stronger on Friday, as import quality soybeans closed at 4,365 yuan/MT (~ $18.45/bu).
The weekly CoT report showed soybean spec traders increased their net long 3,023 contracts ahead of USDA’s report to 177,822 as of 5/11. Commercial positions added 39,868 contracts of open interest, slightly reducing their net short to 288,216 contracts. CFTC’s data as of 5/11 showed meal spec traders were 15,466 contracts more net long to 69,616 contracts. Managed money was 85,850 contracts net long in soy oil as of 5/11, which was down by 1,655 wk/wk via risk off close outs ahead of the report.
Jul 21 Soybeans closed at $15.86 1/4, up 2 1/4 cents,
Aug 21 Soybeans closed at $15.27 1/2, up 5 1/4 cents,
Nearby Cash was $15.92, up 7/8 cent,
Nov 21 Soybeans closed at $14.00 3/4, up 4 1/4 cents,
New Crop Cash was $13.51 1/2, up 4 1/4 cents,
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