The soybean market is trading with double digit gains on Friday, as contracts are up 14 to 19 cents. CmdtyView’s national front month Cash Bean price was up 14 1/2 cents at $9.90 1/4. Soymeal futures are up $2.20/ton, with Soy Oil futures 96 points higher.
Overnight, China retaliated to the increased US tariffs, taking the total to 125% tariff on all US goods.
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A private export sale of 121,000 MT of soybeans were reported as sold to unknown destinations this morning, with 55,000 MT for old crop and 66,000 MT for new crop.
USDA’s Export Sales report brought the total soybean export commitments to 46.343 MMT through April 3. That is 93% of the USDA projection of 1.825 billion bushels and behind the 94% 5-year average pace. Export shipments are now at 84% of the USDA number ahead of the 83% average shipping pace.
May 25 Soybeans are at $10.43 1/4, up 14 1/4 cents,
Nearby Cash is at $9.90 1/4, up 14 1/2 cents,
Jul 25 Soybeans are at $10.51 3/4, up 15 cents,
Nov 25 Soybeans are at $10.23 1/2, up 18 3/4 cents,
New Crop Cash is at $9.63 1/2, up 18 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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