Soybeans prices fell by over 20 cents from intraday highs, closing 2 to 3 cents higher on Friday. March contracts saw an increase of 51 cents this week. Soybean export commitments are down 20% from last year, at 34.29 MMT. Monthly WASDE data is expected to show no major changes in US soybean stocks.

The average close price for November futures is $10.87, higher than last year’s $10.54. Soybean futures and options net long position for managed money increased by 11,511 contracts to 28,832 contracts. Canadian canola stocks reached 15.62 MMT by December 31, up 18.1% from last year.

March 26 Soybeans closed at $11.15 1/4, up 3 cents. Nearby Cash was $10.49 3/4, up 1 3/4 cents. May 26 Soybeans closed at $11.28 3/4, up 2 3/4 cents. July 26 Soybeans closed at $11.39 1/2, up 2 1/4 cents.

Read more at Yahoo Finance: Soybeans Retreating into Friday’s Close