Soybeans are trading with 1 to 2 cent gains on Wednesday morning. Futures were in rally mode on Tuesday, with contracts up 10 1/4 to 13 3/4 cents at the close. Open interest rose 8,392 contracts on Tuesday. The cmdtyView national average Cash Bean price was up 14 1/2 cents at $11.61 3/4. Soymeal futures were up $1.20 to $5.10, with Soy Oil futures 85 to 162 points higher.
President Trump landed in Beijing this morning as he is expected to meet with China’s President Xi over the next couple days, with trade likely at the top of the lists for topics of conversation.
Don’t Miss a Day:
From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.
USDA’s WASDE report showed old crop US carryout down 10 mbu to 340 mbu. That came from a 10 mbu cut to exports and 20 mbu increase to crush. New crop data was also published, with US ending stock at 310 mbu, well below the 366 mbu estimate. The initial World Ag Outlook Board production number for the US was seen at 4.435 bbu, with yield seen at 53 bpa.
South American production was left unchanged this month. Old crop ending stocks for the world was up just 0.34 MMT to 125.13 MMT. The initial projection for 2026/27 from WAOB was at 124.78 MMT.
Jul 26 Soybeans closed at $12.26 3/4, up 13 3/4 cents, currently up 2 1/2 cents
Nearby Cash was $11.61 3/4, up 14 1/2 cents,
Aug 26 Soybeans closed at $12.21 3/4, up 13 3/4 cents, currently up 1 1/2 cents
Sep 26 Soybeans closed at $12.01 3/4, up 11 1/2 cents, currently up 1 3/4 cents
New Crop Cash was $11.44, up 10 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.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
