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Barchart
Austin Schroeder

Soybeans Holding onto Midday Gains, Following Slew of Export Business

CmdtyView Oil USDA

Soybeans are rebounding from the Thursday weakness with contracts up 6 to 8 cents in most contracts at midday. The cmdtyView national average Cash Bean price is up 7 ½ cents at $11.62 1/2. Soymeal futures are $2.10 to $2.60 lower at midday, while Soy Oil futures were 223 to 235 points higher. Crude oil is back up $3.26/bbl at midday to provide support to the bean oil, with heating oil up $0.0688 to $4.0995/gal.

USDA reported 3 sets of private export sales for new crop this morning, with 340,000 MT to China, 256,634 MT to Mexico, and 110,000 MT to unknown destinations.

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