Soybeans are trading with 1 to 1 ½ cent losses early on Friday. Futures rounded out Thursday trade with contracts fractionally to 3 ¼ cents higher, led by the front months. Preliminary open interest was up 12,888 contracts on Thursday, suggesting new buying interest. The cmdtyView national average Cash Bean price was 3 ½ cents higher at $9.36 1/4. Soymeal futures were down $1.10 to $3.10 to close the Thursday session, with Soy Oil futures 24 to 45 points higher.
Argentina’s suspension of export taxes was lifted on Thursday, due to hitting the $7 billion target in exports within the first couple days. A Chinese commerce ministry spokesperson urged the US to eliminate “unreasonable tariffs” when asked on the lack of soybean purchases from the US. President Trump mentioned aid to producers using the tariff money, though no specifics were given.
