Soybeans had a back and forth session centered around the China/US meeting on Wednesday night, as the front three contracts have a 40 cent or more range on Thursday. Contracts closed with 10 to 14 cent gains in the nearbys. The cmdtyView national average Cash Bean price was 13 3/4 cents higher at $10.26 1/4. Soymeal futures were up $2.10 to $6.90, with Soy Oil futures 20 to 52 points lower.
November soybeans have now averaged a close of $10.32 throughout October, elevated by the recent rally. Last year’s harvest price for crop insurance was $10.03, with the spring price at $10.54.
