Soybeans closed Tuesday with 5 to 7 cent gains across most contracts on Tuesday. The cmdtyView national average Cash Bean price was up 5 3/4 cents at $11.27 1/4. Soymeal futures are up 80 cents to $1.10, with Soy Oil futures steady to 51 points lower. Crude oil was down $8.38 on the day as the US began escorting vessels through the Strait of Hormuz, though they did bounce $8 off the low on reports that Iran was placing mines in the waterway.
Optimism held the market up ahead of a meeting between Secretary Bessent and Chinese counterparts this weekend in Paris. That precedes the meeting between Trump and Xi later this month.
