Soybeans are trading with 25 to 30 cent gains at midday. The cmdtyView national average Cash Bean price is 27 cents higher at $10.27 1/2. Soymeal futures are $3.40 to $3.80 higher, with Soy Oil futures up 10 to 109 points.
A phone call between President Trump and China’s President Xi took place this morning. Among the discussions, according to a post from the President, President Trump was looking to lift the soybean commitments to 20 MMT for the current season, vs. the 12 MMT previous.
USDA’s Export Sales report will be out on Thursday, with Traders looking for between 0.4-1.6 MMT of soybean sales in the week of January 29. Soybean meal sales are seen at 250,000-500,000 MT, as bean oil is expected to be 0-25,000 MT.
Mar 26 Soybeans are at $10.93 1/2, up 27 3/4 cents,
Nearby Cash is at $10.27 1/2, up 27 cents,
May 26 Soybeans are at $11.06 1/2, up 29 1/4 cents,
Jul 26 Soybeans are at $11.18 1/4, up 27 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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