Soybeans Firming Higher at Midday

Soybeans are trading fractionally higher in nearby contracts and up as much as 5 cents in new-crop months, while the national average cash bean price rose 3/4 cent to $11.02 1/2. Soymeal is down $2 to $3 on the day, partially offset by soy oil futures up 190 points. The move reflects routine day-to-day commodity trading rather than a major fundamental shift.

Analysis

Soybeans are trading fractionally higher in nearby contracts and up as much as 5 cents in new-crop months, while the national average cash bean price rose 3/4 cent to $11.02 1/2. Soymeal is down $2 to $3 on the day, partially offset by soy oil futures up 190 points. The move reflects routine day-to-day commodity trading rather than a major fundamental shift.