Soybeans are feeling weight from a weaker bean oil market on Friday morning, with contracts down 5 to 6 cents. Futures managed to see a late session surge by the bulls in the nearbys, up 3 to 4 cents. New crop contracts were fractionally mixed. Thursday’s preliminary open interest was up 4,564 contracts. The cmdtyView Cash Bean price was up 3 1/4 cents to $10.05. Soymeal futures were up $1 to $2.70/ton on the day, with Soy Oil futures 22 to 54 points lower.

Export Sales data is pushed back to this morning due to the Monday holiday. Analysts are looking for 150,000 to 500,000 MT for old crop beans and 0 to 250,000 MT for new crop. Bean meal sales are expected to total 150,000 to 450,000 MT, with bean oil seen in a range of 5,000 to 32,000 MT. 

The forecast is a little drier through Sunday, with some rains expected in the early parts of next week for the Northern Plains and moving east through the middle of the week.

Jul 25 Soybeans  closed at $10.51 3/4, up 3 1/4 cents, currently down 5 3/4 cents

Nearby Cash  was $10.05, up 3 1/4 cents,

Aug 25 Soybeans  closed at $10.48 1/2, up 3 1/4 cents, currently down 6 1/2 cents

Nov 25 Soybeans  closed at $10.37 1/4, down 1/4 cent, currently down 5 3/4 cents

New Crop Cash  was $9.75 1/1, down 1/4 cent,