Soybeans posted 4 ¾ to 11 ¼ cent gains across the board on Tuesday, as contracts fell off the intraday highs. The cmdtyView national average Cash Bean price is 11 3/4 cents higher at $10.10 1/2. Soymeal futures are up $6.20 to $8.50, with Soy Oil futures 16 to 51 points lower.
Optimism continues ahead of the Trump/Xi meeting this week, though few details about the trade talks from the weekend have been revealed.
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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 closed at $10.78 1/4, up 11 cents,
Nearby Cash was $10.10 1/2, up 11 3/4 cents,
Jan 26 Soybeans closed at $10.95 1/4, up 10 1/4 cents,
Mar 26 Soybeans closed at $11.06 3/4, up 11 1/4 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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