Soybeans are down 1 to 2 ½ cents on Wednesday AM trade. The market held the losses on Tuesday, with contracts closing steady to 1 ¼ cents higher and off the early lows. Tuesday’s open interest data was up 2,013 contracts. The cmdtyView national average Cash Bean price was 1 1/4 cents lower at $9.32 1/2. Soymeal futures were mixed, with contracts up 50 cents to 80 cents lower, with Soy Oil steady to 2 ticks lower on the day.
After the close, President Trump posted that he is “considering terminating business with China, having to do with cooking oil and other elements of trade, as retribution” to not buying US soybeans.
