Soybeans saw a slight increase on Monday morning, with futures down 15 to 17 cents on Friday. Weekly losses for January contracts were 28 cents. Soymeal futures were up in the front months but down in the deferreds, closing the week with a $4.90 loss for January. Soy Oil futures were also down.

Traders are expecting soybean sales of 0.8-3 MMT for the week of November 20, with meal sales estimated at 100,000-450,000 MT and bean oil sales at 5,000-25,000 MT. The Export Sales report is anticipated to provide more information soon.

Spec funds increased their net long position by 35,182 contracts, reaching 229,625 contracts net long by November 18, the highest since October 2020. Data for the week of 11/25 will be released soon. AgRural reported that the Brazilian soybean crop was 97% planted as of last Thursday.

Soybean prices closed lower on Monday, with Jan 26 Soybeans at $10.76 3/4, down 16 3/4 cents. Nearby Cash was at $10.06 1/2, down 17 cents, while 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 Slightly Higher to Start Monday