Soybeans prices are up 3 to 4 so far on Thursday AM. Futures held on to the Wednesday gains as contracts were up 8 to 11 ½ cents across most months. Open interest suggested net new buying, up 9,390 contracts on the day. The cmdtyView national average Cash Bean price was 12 1/4 cents lower at $9.94. Soymeal futures were down 20 cents to $2.10/ton, with Soy Oil futures 107 to 145 points higher.
In an interview late on Tuesday, US Trade Rep Greer stated there is a chance that he and secretary Bessent meet with Chinese counterparts before April when President Trump is expected to meet with President Xi. Secretary Bessent met with China’s Vice Premier on Wednesday in Davos and had positive trade talks.
Rains are expected in northern portions of Brazil in the next week, slowing some early harvest. The southern portions are expected to be drier, as well as parts of Argentina.
Mar 26 Soybeans closed at $10.64 1/2, up 11 1/2 cents, currently up 3 1/2 cents
Nearby Cash was $9.94, up 12 1/4 cents,
May 26 Soybeans closed at $10.75, up 11 cents, currently up 3 1/4 cents
Jul 26 Soybeans closed at $10.87 1/4, up 11 cents, currently up 3 1/4 cents
