Soybeans are trading 2 to 3 cents higher so far on Wednesday morning. Futures saw a rebound on Tuesday with contracts up 2 to 4 ¼ cents across the nearbys at the close. The cmdtyView national average Cash Bean price was 4 1/4 cents higher at $9.44 1/4. Soymeal futures were mixed, with nearby October up a dime and other contracts down 20 to 80 cents. There were another 99 deliveries against October meal overnight. Soy Oil futures were up 38 to 74 points on the day. The CBOT reported 25 deliveries for October bean oil overnight. November soybeans have averaged $10.19 so far through the 5 trade days in October, with the full month’s average used in the harvest price discovery for crop insurance.
Despite Secretary Bessent stating last week there would be news on Tuesday, the White House stated the shutdown had delayed the aid announcement.
