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Barchart
Barchart
Austin Schroeder

Soybeans Hold Gains into Wednesday’s Close as the Market Looks to Trump/Xi Meeting

Donald Trump CmdtyView Oil

Soybeans saw modest strength on Wednesday, with contracts closing fractionally to 3 cents higher on the day. The cmdtyView national average Cash Bean price was up 3 1/4 cents at $11.64. Soymeal futures were the supportive product, up $4.40 to $10.10, with Soy Oil futures falling into the close, down 27 to 104 points.

President Trump landed in Beijing this morning as he is expected to meet with China’s President Xi over the next couple days, with trade likely at the top of the lists for topics of conversation. They are expected to meet at 10 AM local time, or 9:00 pm CDT this evening. 

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