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Soybean futures were mostly 2 to 3 3/4 cents higher on the day, but the November contract still ended the week a penny lower. The November contract finished the month of September 11 cents higher than it began. The USDA’s quarterly Grain Stocks report published at 11 AM CDT. had US soybean stocks in all positions as of Sept 1. At 197mbu; slightly tighter than the average trade guess, but up 2 mbu from the Sept. 12 estimate. The 2015 production figure was reduced, but only by about 3 mbu. The Commitment of Traders report showed managed money accounts continuing to reduce their net long position in soybean futures and options.
Nov 16 Soybeans settled at $9.54, up 3 3/4 cents,
Jan 17 Soybeans settled at $9.59 1/4, up 3 cents,
Mar 17 Soybeans settled at $9.65 1/2, up 2 1/2 cents,
May 17 Soybeans settled at $9.71 3/4, up 2 1/4 cents,