September soybeans gained 0.75 cents on extremely low volume of 115,459 contracts. Total open interest increased by 1,581 contracts, which relative to volume is approximately 40% less than average. The August contract lost 1,463 of open interest. Export sales totaled 78.54 thousand tons and total commitments to date are 1362.8 million bushels versus the USDA projection of 1330 mb. As this report is being compiled on August 1, September soybeans have made another new low at $12.31. Soybeans remain on a short and intermediate term sell signal. Do not chase the market lower, because it could rally at any time, especially since managed money is getting increasingly net short, and the growing season is still ahead of us.