Soybean contracts closed the week down 2 to 4 ½ cents, with March up 17 ¾ cents. Cash bean price at $10.67 1/4. Soymeal futures up 70 cents to $1.30, with March up $5.60. Soy oil futures down 40 to 47 points, with March up 175 points. Markets closed Monday for President’s Day.

Managed money added 94,316 contracts to their net long position, totaling 123,148 contracts as of 2/10. USDA Export Sales data shows soybean commitments at 34.572 MMT, down 20% from last year and 81% of export projection. NOPA data release on Tuesday, expecting January crush at 218.5 mbu and soybean oil stocks at 1.71 billion lbs.

Soybean prices closed at $11.33 for Mar 26, down 4 1/4 cents. Nearby Cash at $10.67 1/4, down 4 1/4 cents. May 26 Soybeans closed at $11.48 1/2, down 3 3/4 cents. Jul 26 Soybeans closed at $11.60 1/2, down 3 1/4 cents.

Read more at Yahoo Finance: Soybeans Close the Week with Weakness