Beans are trading with 1 to 2 cent gains so far on Tuesday morning. Soybeans gained some strength on Friday, with contracts popping 5 to 7 cents higher in the nearbys. March was still down 13 ½ cents on the week. The national front month The national front month Cash Bean price from cmdtyView was 6 cents higher at $9.75 1/2. Soymeal futures were up $2.70/ton, with Soy Oil futures back down 4 points so far on the session. 

The large managed money spec funds in soybean futures and options were slashing their net long position as of February 11 by 28,554 contracts. They cut that fresh net long by nearly half to just 28,475 contracts on that Tuesday.

NOPA data will be released on Tuesday (delayed due to the holiday), with traders expecting to see 204.54 MMT for January crush totals, up 10.1% from last year total if realized. Soy oil stocks are estimated at 1.289 billion lbs. 

Brazil’s soybean crop was estimated at 23% planted as of last Thursday, lagging the 32% harvest pace from last year. 

Mar 25 Soybeans  closed at $10.36, up 6 cents, currently up 2 cents

Nearby Cash  was $9.75 1/2, up 6 cents,

May 25 Soybeans  closed at $10.52 3/4, up 5 3/4 cents, currently up 1 3/4 cents

Nov 25 Soybeans  closed at $10.52, up 6 3/4 cents, currently up 1 1/2 cents

New Crop Cash  was $9.88 3/4, up 6 3/4 cents,