Soybeans are in rally back mode on Thursday with contracts up 6 to 7 cents at midday. The cmdtyView national average Cash Bean price is 6 3/4 cents higher at $9.43 3/4. Soymeal futures are up $3.60 to $3.70 so far on the day, with Soy Oil steady to 9 points higher in the nearbys.
With the Crop Insurance discovery now over half way through, November soybean futures have averaged $10.15 thus far. That is down from $10.54 from the Feb price but up from the $10.03 from last year’s fall price.
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Early on Friday morning, President Trump he think’s we’ll be fine with China ahead of the leaders meeting in a couple weeks. He also stated the 100% tariffs on China are not sustainable.
Nov 25 Soybeans are at $10.17 1/4, up 6 1/2 cents,
Nearby Cash is at $9.43 3/4, up 6 3/4 cents,
Jan 26 Soybeans are at $10.35 1/4, up 6 3/4 cents,
Mar 26 Soybeans are at $10.50 1/2, up 6 3/4 cents,
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