Soybeans are in rally back mode on Thursday with contracts up 6 to 7 cents at midday. The cmdtyView national average Cash Bean price is 6 3/4 cents higher at $9.43 3/4. Soymeal futures are up $3.60 to $3.70 so far on the day, with Soy Oil steady to 9 points higher in the nearbys.
With the Crop Insurance discovery now over half way through, November soybean futures have averaged $10.15 thus far. That is down from $10.54 from the Feb price but up from the $10.03 from last year’s fall price.
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Early on Friday morning, President Trump he think’s we’ll be fine with China ahead of the leaders meeting in a couple weeks. He also stated the 100% tariffs on China are not sustainable.
Nov 25 Soybeans are at $10.17 1/4, up 6 1/2 cents,
Nearby Cash is at $9.43 3/4, up 6 3/4 cents,
Jan 26 Soybeans are at $10.35 1/4, up 6 3/4 cents,
Mar 26 Soybeans are at $10.50 1/2, up 6 3/4 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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