Soybeans saw a decrease over the weekend, with contracts dropping 15 to 17 cents on Friday. Weekly losses amounted to 28 cents in the January contract. Soymeal futures were mixed, while Soy Oil futures were lower. A private export sale of 132,000 MT to China was reported by the USDA.

Commitment of Traders data showed spec funds adding 35,182 contracts to their net long position, reaching 229,625 contracts net long – the largest since October 2020. An additional update to the Export Sales report is expected, with estimates for soybean sales and meal sales. Sinograin, a Chinese state stockpiler, announced an auction for 513,000 MT of imported soybeans.

Jan 26 Soybeans closed at $10.76 3/4, down 16 3/4 cents, while Nearby Cash was at $10.06 1/2, down 17 cents. Mar 26 Soybeans closed at $10.86 3/4, down 16 cents, and May 26 Soybeans closed at $10.97, down 15 1/4 cents.

Read more at Yahoo Finance: Soybeans Continue Selling the Fact on Friday with Chinese Buying