Soybeans are trading with 4 to 5 cent gains across most contracts on Friday. There were 677 deliveries issued for November beans overnight. The cmdtyView national average Cash Bean price was 3 1/4 cents higher at $10.29 1/2. Soymeal futures are up $7.20, with Soy Oil futures 100 points lower.
November soybeans have averaged a close of $10.32 throughout October, with today’ close needed to calculate the harvest price for Crop Insurance.
Following the US/China talks, China reportedly has purchased a few more cargoes of US soybeans as they look to fill their 12 MMT commitments made this week.
EIA data showed a total of 1.041 billion lbs of soybean oil used in biodiesel production in August. That was down 14.48% yr/yr and 6.09% below July. It was also 39.15% of the total biodiesel feedstock in August, which was the highest inclusion rate since September 2023.
Nov 25 Soybeans are at $10.95 3/4, up 4 1/2 cents,
Nearby Cash is at $10.29 1/2, up 3 1/4 cents,
Jan 26 Soybeans are at $11.12 1/4, up 4 1/2 cents,
Mar 26 Soybeans are at $11.20 3/4, up 5 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.
