Soybean futures closed the Friday session with 12 1/4 to 13 3/4 cent losses. New crop contracts closed UNCH to 1 1/4 cents higher. Soymeal turned in the afternoon and closed the Friday session with $1.20 to $2.40/ton losses. Soy oil futures ended down by 114 to 126 points. The board soy crush spread continued to weaken, down 36% since the new year to 63.6 cents/bu. NOPA members processed 183.159 mbu of soybeans in December. That was below the 185 mbu average trade guess but still up from November and a record for December. Soy oil stocks were reported at 1.7 billion lbs. USDA announced a private export sale for 318,000 MT of 21/22 soybeans to unknown. CFTC data from 1/12, USDA’s report day, showed managed money was 166,485 contracts net long. That came after a 9,342 contract reduction from long liquidation and new selling. Commercials reduced their net short 16,846 contracts to 297,117. For soymeal, managed money funds were 84,408 contracts net long. BO spec traders reduced their net long by 19,381 contracts on long liquidation to 93,536. International Grains Council reduced 2020/21 soy output by 6 MMT to 359 MMT - citing reduced yield potential in So. Am. They carried the change through the demand side leaving stocks at 45 MMT.

--- provided by Brugler Marketing & Management