Soybeans are up 3 to 4 cents on the Friday morning session. Futures posted 4 to 5 cent gains across the front months on Thursday, as slight product value strength provided some support. Open interest rose 6,222 contracts on Thursday. The cmdtyView national average Cash Bean price was 4 1/4 cents higher at $9.36. Soymeal futures were up 50 cents to $1.00 on the day, with Soy Oil 7 to 15 points higher in the nearbys. With the Crop Insurance discovery now over half way through, November soybean futures have averaged $10.15 thus far. That is down from $10.54 from the Feb price but up from the $10.03 from last year’s fall price.
Early on Friday morning, President Trump he think’s we’ll be fine with China ahead of the leaders meeting in a couple weeks.
