Soybeans Turn Higher on Tuesday
Soybeans saw a rebound on Tuesday with contracts up 2 to 4 ¼ cents across the nearbys at the close. The cmdtyView national average Cash Bean price was 4 1/4 cents higher at $9.44 1/4. Soymeal futures were mixed, with nearby October up a dime and other contracts down 20 to 80 cents. Soy Oil futures were up 38 to 74 points on the day. November soybeans have average $10.19 so far through the 5 trade days in October, with the full month’s average used in the harvest price discovery for crop insurance.
Despite Secretary Bessent stating last week there would be news on Tuesday, insinuating a possible announcement on trade aid, there has been no news.
There will be no USDA Crop Production report this week due to the government shutdown, though a Reuters survey of analysts shows yield at 53.2 bpa. That would be down 0.3 bpa from September, with production sen down 30 mbu to 4.271 bbu.
The European Commission tallies the 2025/26 EU soybean imports at 3.28 MMT from July 1 to October 5, which is behind the 3.41 MMT in the same period last year. Meal imports have totaled 4.77 MMT, behind the 4.8 MMT in that same time frame last year.
Nov 25 Soybeans closed at $10.22, up 4 1/4 cents,
Nearby Cash was $9.44 1/4, up 4 1/4 cents,
Jan 26 Soybeans closed at $10.39, up 3 1/4 cents,
Mar 26 Soybeans closed at $10.53, up 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.