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Austin Schroeder

Soybeans Rally into the Weekend, Led by Meal

Soybeans closed the Friday session with contracts 5 to 10 ½ cents higher, as meal took control. May was up 12 ¼ cents on the week, with November up 3 3/4 cents. The cmdtyView national average Cash Bean price was up 11 cents at $11.08. Soymeal futures rallied $7.50 to $14.20 on the day, with May up $16.60 this week. Soy Oil futures were down 24 to 61 points on the day, with May down 185 points this week. Crude oil was down $2.24 on the day, as risk was taken off the table ahead of the US/Iran talks this weekend.

USDA reported a private export sale of 100,000 MT of soybean meal to Italy this morning.

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