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Soybean futures were sharply lower on the day, however July bean meal was able to post a slight gain on the day. For the week July soybeans lost 29 cents (or nearly 3.15%), and meal gained 90 cents (0.3%). Bean oil export commitments are well behind normal for this date and the July contract lost 61 cents on the day and 4.52% on the week. Private exporters reported to the USDA this morning that Thailand booked 109,400 MT of soybean meal for delivery during 2015/16CFTC showed in its weekly report that the managed money accounts had a new record net-short position in disaggregated futures and options for soybeans, coming in 39,280 contracts more short than a week earlier at -90,271 contracts.
Jul 15 Soybeans closed at $9.24 1/4, down 14 1/4 cents,
Aug 15 Soybeans closed at $9.16 1/4, down 13 1/2 cents,
Sep 15 Soybeans closed at $9.07 1/2, down 12 3/4 cents,
Nov 15 Soybeans closed at $9.07, down 11 1/2 cents,