Soybeans Back to Gains on Wednesday

Core Insights - Soybean prices have increased by 6 to 9 cents across most contracts, with the national average cash bean price at $10.54 3/4, which is 7 1/2 cents lower [1] - China has suspended some retaliatory tariffs on US goods, maintaining a 10% tariff from the Liberation Day response, resulting in a total tariff of 13% on US soybeans [2] - Export sales data is not available, but analysts estimate soybean sales for the week of 10/30 to be between 0.4-2 million metric tons, with meal sales expected to be between 50,000-450,000 metric tons [3] Price Movements - November 25 soybeans are priced at $11.15, up 6 3/4 cents, while January 26 soybeans are at $11.28 1/2, up 7 cents, and March 26 soybeans are at $11.36 1/4, up 8 1/2 cents [3] - Soymeal futures have increased by $5.70, while soy oil futures remain steady [1] Market Activity - There have been 1,093 deliveries of soybeans for the month, with 5 additional deliveries issued overnight [1] - Basis movement in the North and Pacific Northwest (PNW) indicates that buyers have been somewhat active despite the uncertainty in export sales data [2]