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Barchart
Barchart
Austin Schroeder

Soybeans Falling on Crude Oil Pressure on Wednesday

Soybeans Oil ARE CmdtyView

Soybeans are trading with 17 to 21 cents lower on Wednesday with outside pressure from crude playing a factor. There were 24 deliveries issued against May beans overnight. The cmdtyView national average Cash Bean price is down 19 1/2 cents at $11.24 3/4. Soymeal futures are down $1.90 to $2.70 so far on the session, with Soy Oil futures down 161 to 170 points at midday.

Crude oil is down $6.71 at midday following the US and Iran closing in on reaching a memorandum of understanding that would, among other things, allow for the safe passage through the Strait of Hormuz as well as a path to ending to conflict.

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