Soybean Aug '24 (ZSQ24)
Soybean Futures Market News and Commentary
Soybeans are showing some modest buying in the front months on Tuesday another 1 to 2 ½ cents higher, Futures were up 19 ¾ to 36 cents across most contracts on Monday, as bulls took some of last week’s losses with a few more US/Chinese details known. Open interest suggested new buying, mostly in the new crop contracts, up 6,613 contracts across the board, with July down 7,901 contracts. The cmdtyView national average Cash Bean price was up 36 1/4 cents at $11.49. Soymeal futures were $2.10 to $5.20 higher, with Soy Oil futures 130 to 175 points in the green.
On Sunday, the White House released a fact sheet on the US/China talks from last week, in part stating that “China will purchase at least $17 billion per year of U.S. agricultural products in 2026 (prorated), 2027, and 2028, in addition to the soybean purchase commitments that it made in October 2025.”
The weekly Crop Progress report from NASS showed the US soybean crop at 67% planted by May 17, still well above the... Read more
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