Soybeans closed with gains on Friday, with Nov prices falling back 11 ¾ cents from the previous week. Cash Bean prices increased by 1 1/2 cents to $9.38 3/4. Soymeal futures were up 20 cents, while Soy Oil futures were down 5 to 14 points.

CFTC data showed spec funds in a net short position of 29,302 contracts. Commercial net short positions decreased, while managed money held net short positions in soybean oil and meal futures and options.

USDA’s Export Sales report revealed commitments at 11.002 MMT, with sales outside of China at a 3-year high. Analysts predict September 1 soybean stocks at 325 mbu.

Read more at Yahoo Finance: Soybeans Hold Gains on Friday