Soybeans are rallying nearly 20 cents off the early session lows, with contracts up ½ cent to a penny lower in the nearbys. The cmdtyView national average Cash Bean price was up 1 cent at $12.61. Soymeal futures are down $1.30 to $1.60, with Soy Oil up 12 to 14 points.
Heavy rains continue to show up in the forecast for the next week according to NOAA, with 1 to upwards of 4 inches expected from TX to the Great Lakes, and NE to IN. Ohio and a line east of the Ohio river are expected to see lower totals.
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Limited information has been released on what was discussed between US and Chinese leaders this week, though a report late on Friday morning indicated USTR Greer was looking for some details to be released on Monday.
Export Sales data from USDA now has soybean commitments at 21.2 MMT, which is 94% above the same period last year. That is also 46% of the USDA forecast and well above the 5-year 38% average.
Nov 26 Soybeans are at $13.18, up 1/2 cent,
Nearby Cash is at $12.61 1/1, up 1 cent,
Jan 27 Soybeans are at $13.31 1/2, down 1/2 cent,
Mar 27 Soybeans are at $13.38 3/4, down 1 cent,
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.
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