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Austin Schroeder

Soybeans Shrugging Off Early Weakness at Midday

CmdtyView Oil

Soybeans are showing fractional gains at midday on Tuesday, after overnight gains faded to early session losses this morning. The cmdtyView national average Cash Bean price is 1 1/4 cents higher at $10.85 3/4. Soymeal futures are back down $4.10 at midday, with Soy Oil futures 115 to 116 points higher.

USDA reported a total of 792,000 MT of soybeans sold to China via their daily announcement system this morning. Wire had reports indicated at least 14 cargoes (~840,000 MT) were purchased by China on Monday, with some pushing that number towards 20 cargoes (1.2 MMT). 

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