Soybeans posted 7 ¾ to 16 ¾ cent gains across the board on Friday to ease the week’s losses. Soymeal was up $3.50 to $5.80 heading into the weekend. Soy Oil saw 16 to 28 point gains on the day.

A private export sale ofo121,500 MT of soybeans was reported by the USDA to unknown destinations this morning. The sale was spilt with 13,500 MT for 23/24 delivery and 108,000 MT shipped during 24/25.

CFTC data from Friday afternoon showed specs in beans adding back 28,565 contracts to their large net short position as of 4/16. That took them to a net short of 167,875 contracts. Commercials were adding longs (26,949 contracts), to increase that position to 53,691 contracts. In soybean oil specs added 49,167 contracts to their net short, the largest bear move on record, to 53,295 contracts. 

The BAGE estimates 14% of the Argentine soybean crop is harvested, up from 11% the previous week, but well below the 36% average pace. The Argentine government release an initial crop estimate of 49.7 MMT on Thursday.

May 24 Soybeans  closed at $11.50 1/2, up 16 1/4 cents,

Nearby Cash   was $10.97 7/8, up 16 3/8 cents,

Jul 24 Soybeans  closed at $11.65 3/4, up 16 3/4 cents,

Nov 24 Soybeans  closed at $11.61, up 11 3/4 cents,

New Crop Cash   was $10.97 1/2, up 11 3/4 cents,