Soybeans are looking at 2 to 3 cent higher trade so far on Tuesday morning. The soybean market got help from product values and friendlier trade talk on Monday, as contracts closed with 12 to 14 cent gains. Open interest suggested new buying interest, up 2,613 contracts. The cmdtyView national average Cash Bean price is 12 3/4 cents higher at $9.58 ¼. With less than 2 weeks left for the harvest price discovery for crop insurance, the average close has been $10.17 for November soybean futures. Support from the products was noted, as Soymeal futures were up $4 to $4.80 on Monday, with Soy Oil 18 to 34 points higher
Over the weekend President Trump stated he was confident in reaching a soybean deal with China and he “wants China to buy soybeans at least in the amount they were buying before.” He reiterated similar statements on Monday.
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USDA tallied soybean export shipments at 1.474 MMT (54.17 mbu) during the week ending on October 16. That was 42.9% below the same week last year but 44.9% above last week. Mexico was the top destination of 221,269 MT, with 167,380 MT headed to Pakistan and 166,271 MT to Bangladesh. Vietnam and Egypt were also destinations of over 160,000 MT. Marketing year exports for 2025/26 are now 5.537 MMT (203.48 mbu) since September 1, which is now 30.9% below the same period last year.
Nov 25 Soybeans closed at $10.31 3/4, up 12 1/4 cents, currently up 2 cents
Nearby Cash was $9.58 1/4, up 12 3/4 cents,
Jan 26 Soybeans closed at $10.50, up 13 1/4 cents, currently up 2 cents
Mar 26 Soybeans closed at $10.64, up 13 1/4 cents, currently up 2 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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