Soybeans are trading with double digit 10 to 13 cent gains across the front months on Tuesday, with January trying to push through $11 and November hitting a new calendar year high. The cmdtyView national average Cash Bean price is 12 3/4 cents higher at $10.11 1/4. Soymeal futures are up $8.30 to $8.60, with Soy Oil futures 72 to 74 points lower. Optimism continues ahead of the Trump Xi meeting later this week.
The trade is looking for soybeans to be near 84% harvested as of 10/26. The Crop Progress report was not reported due to the government shutdown.
Brazil soybean exports are seen at 7 MMT in October according to ANEC, a drop of 0.34 MMT from last week’s estimates
Nov 25 Soybeans are at $10.79 3/4, up 12 1/2 cents,
Nearby Cash is at $10.11 1/4, up 12 3/4 cents,
Jan 26 Soybeans are at $10.96 3/4, up 11 3/4 cents,
Mar 26 Soybeans are at $11.08, up 12 1/2 cents,
