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,
