Soybeans Close the Week with Weakness

Market Overview - Soybean contracts closed down 2 to 4 ½ cents, with March contracts up 17 ¾ cents for the week [1] - The national average Cash Bean price decreased by 4 ¼ cents to $10.67 ¼ [1] - Soymeal futures increased by 70 cents to $1.30, with March up $5.60 for the week [1] - Soy Oil futures fell by 40 to 47 points, while March was up 175 points for the week [1] - The markets will be closed on Monday for President's Day [1] CFTC Data - Managed money added 94,316 contracts to their net long position, bringing the total to 123,148 contracts as of February 10 [2] USDA Export Sales - Soybean commitments are at 34.572 million metric tons, down 20% from a year ago, representing 81% of USDA's export projection [3] - This figure lags behind the 89% pace of the 5-year average [3] - NOPA data is expected to show January crush at 218.5 million bushels, with soybean oil stocks projected at 1.71 billion pounds [3] Soybean Prices - March 26 Soybeans closed at $11.33, down 4 ¼ cents [3] - Nearby Cash was $10.67 ¼, down 4 ¼ cents [3] - May 26 Soybeans closed at $11.48 ½, down 3 ¾ cents [3] - July 26 Soybeans closed at $11.60 ½, down 3 ¼ cents [3]