Soybeans are trading with double digit gains at midday, with contracts up 14 to 17 cents. The cmdtyView national average Cash Bean price is up 15 1/4 cents at $11.42 1/4. Soymeal futures are up 80 cents to $1.10, with Soy Oil futures 197 to 261 points higher. There were 200 deliveries issued overnight against March soybean oil.
Crude oil is back up another $3.03 on Wednesday, adding some premium pack in as the Iran situation continues to unfold despite the International Energy Agency agreeing to release 400 million barrels of ethanol reserves.
