Market Overview - Soybeans are experiencing gains of 25 to 30 cents at midday, with the national average Cash Bean price rising by 27 cents to $10.27 1/2 [1] - Soymeal futures have increased by $3.40 to $3.80, while Soy Oil futures are up by 10 to 109 points [1] Trade Developments - A phone call between President Trump and China's President Xi discussed increasing soybean commitments to 20 million metric tons (MMT) for the current season, up from the previous 12 MMT [1] Upcoming Reports - The USDA's Export Sales report is expected to be released on Thursday, with traders anticipating soybean sales between 0.4 to 1.6 MMT for the week of January 29 [2] - Soybean meal sales are projected to be between 250,000 to 500,000 metric tons, while bean oil sales are expected to range from 0 to 25,000 metric tons [2] Price Movements - As of March 26, Soybeans are priced at $10.93 1/2, reflecting an increase of 27 3/4 cents [2] - Nearby Cash is at $10.27 1/2, up 27 cents, while May 26 Soybeans are at $11.06 1/2, up 29 1/4 cents, and July 26 Soybeans are at $11.18 1/4, up 27 3/4 cents [2]
Soybeans Rallying on President Trump Post
Yahoo Finance·2026-02-04 18:33