Soybeans are trading with double digit 10 to 13 cent gains across the front months on Tuesday, with January trying to push through $11 and November hitting a new calendar year high. The cmdtyView national average Cash Bean price is 12 3/4 cents higher at $10.11 1/4. Soymeal futures are up $8.30 to $8.60, with Soy Oil futures 72 to 74 points lower. Optimism continues ahead of the Trump Xi meeting later this week.
The trade is looking for soybeans to be near 84% harvested as of 10/26. The Crop Progress report was not reported due to the government shutdown.
Brazil soybean exports are seen at 7 MMT in October according to ANEC, a drop of 0.34 MMT from last week’s estimates
Nov 25 Soybeans are at $10.79 3/4, up 12 1/2 cents,
Nearby Cash is at $10.11 1/4, up 12 3/4 cents,
Jan 26 Soybeans are at $10.96 3/4, up 11 3/4 cents,
Mar 26 Soybeans are at $11.08, up 12 1/2 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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