Lang
Soybean futures ended Friday’s session lower by 4 to 7.25 cents, while the July contract remained up 10.25 cents for the week.
The November contract gained 15 cents from the previous Friday.
The nearby cash soybean price on cmdtyView fell by 7.25 cents to $10.11.
Soymeal futures declined by $2.20 to $2.40 per tonne on Friday, but still held a weekly gain of $4.30.
By contrast, soybean oil futures rose by 11 to 14 points, lifting total weekly gains to 42 points.
Market schedule: The market will be closed on Monday for Memorial Day, and government reports will also be delayed. Trading is scheduled to resume at 7 p.m. CDT on Monday.
COT data: The weekly report showed investment funds reduced their net long positions in soybean futures and options by 25,753 contracts, bringing the net position to 12,654 contracts as of May 20.
In soymeal contracts, managed money held a record net short position of 107,466 contracts as of Tuesday.
Export data: USDA data showed soybean export commitments at 48.31 million metric tonnes, up 13% from the same period last year.
These commitments represent 96% of USDA’s export forecast, but remain below the normal average pace of 99%.
Accumulated actual exports reached 44.15 million metric tonnes, representing 88% of the export target and in line with the average pace.
Contract settlements on May 24: