Soybeans Rally to New Highs on Wednesday

Soybeans rose across most contracts, gaining 20 to 28 1/2 cents at the Wednesday close, led by a 28 1/2 cent increase in the cmdtyView national average Cash Bean price to $12.30 3/4. Soymeal futures outperformed, up $5.90 to $10.10 on the day, while soy oil was also described as moving lower/sideways (partial quote). Net effect is modestly positive for the soybean complex based on the broad gains.