Soybeans Falling Lower to Start Halloween Trade

Group 1 - Soybean futures experienced a volatile trading session with losses of 3 to 5 cents, while the nearby contracts closed with gains of 10 to 14 cents [1] - November soybeans averaged a closing price of $10.32 throughout October, influenced by a recent price rally [2] - Following a meeting between Trump and Xi, China committed to purchasing 12 million metric tons (MMT) of soybeans for the current year and 25 MMT annually for the next three years [3] Group 2 - Tariffs on US agricultural goods are anticipated to be lifted, enhancing the competitiveness of US products in the market [3] - The preliminary open interest for soybeans decreased by 15,262 contracts, indicating ongoing liquidation ahead of the first notice day [1] - The national average cash bean price increased by 13.75 cents to $10.26.25 [1]