Soybeans are trading with sharp losses out of the weekend, down 11 to 32 cents. Futures rounded out the Friday session with contracts down 2 to 6 ¼ cents across the board, as May still held up for a 24 ½ cent gain. The cmdtyView national average Cash Bean price was down 2 cents at $11.50 1/4. Soymeal futures were down $1.60 to $2.50 higher on the day, as May was up $5.50 on the week. Soy Oil futures were mostly within 8 points of unchanged, as May was 86 points higher since last Friday. Crude oil is down $1.76 this morning.
US Treasury Secretary Bessent and Chinese counterparts met this weekend in Paris to prep for the meeting between President Trump and President Xi later this month. Following the meeting it was noted that China was open to buying more US ag goods. Late on Sunday President Trump stated there could be a delay in the meeting with China, while also expecting to see China help unblock the Strait of Hormuz, with some thinking that the two are tied to one another.
