Soybeans 2 to 3 Lower As CFTC Shows Spec Selling
BRUG - Mon Apr 22, 7:31AM CDT

Soybean futures are 2 1/2 to 3 cents lower to begin the week. They settled 1 to 1 3/4 cents higher on position squaring ahead of the 3-day holiday weekend. Preliminary open interest confirmed some light net buying, rising 2,935 contracts. Meal futures were down $.70/ton but May soy oil was 34 points higher. The weekly USDA Export Sales report confirmed only 382,100 MT for old crop export sales in the latest reporting week. Crushers were buying bean futures last week, with spec funds taking the other side. The CFTC spec fund net short rose to 91,400 contracts as of 4/16. That was an increase of 13,188 contracts for the week. --provided by Brugler Marketing & Management

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