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Soybeans Posting Friday Rally as USDA Shows Better Than Expected Data

Commodities & Raw MaterialsEnergy Markets & Prices

Soybeans are up 10 to 13.5 cents across most contracts at midday after a friendlier USDA report, while the cmdtyView national average Cash Bean price is still down 13.25 cents to $11.44 1/4. Soymeal futures are higher by $5.00 to $6.30 across most contracts, and soy oil is also bid (+70 cents per contract mentioned), indicating a supportive tone in the complex.

Analysis

Soybeans are up 10 to 13.5 cents across most contracts at midday after a friendlier USDA report, while the cmdtyView national average Cash Bean price is still down 13.25 cents to $11.44 1/4. Soymeal futures are higher by $5.00 to $6.30 across most contracts, and soy oil is also bid (+70 cents per contract mentioned), indicating a supportive tone in the complex.

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