Soybeans: On May 22, July soybeans generated a short-term buy signal and remains on an intermediate term buy signal.
For the week, July soybeans advanced 50.50 cents, August +45.75, new crop November +44.25. The COT report revealed that managed money liquidated 4,258 contracts of their long positions and added 6,291 contracts to their short positions. Commercial interests added 14,000 contracts to their long positions and also added 3,869 contracts to their short positions. As of the latest report, managed money is long soybeans by ratio of 5.00:1, which is down significantly from the previous week of 6.27:1 and the ratio of 2 weeks ago of 6.76:1.