September soybeans advanced 18.75 cents and November gained 26.50 on volume of 228,764 contracts. Total open interest increased by a hefty 8,910 contracts, which relative to volume is approximately 50% above average meaning that new longs and shorts were entering the market aggressively, but longs were moving prices higher. Making the total open interest increase more impressive was the fact that the September contract lost 1,524 of open interest. September soybeans made a new high for the move at $12.94, and as this report is being compiled on August 16 has made another new high of 12.96. September and November soybeans remain on a short and intermediate term sell signal, but conceivably the November contract could generate a short-term buy signal early next week.