Soybeans Struggling to Maintain Wednesday Gains
The soybean market is showing firm to 4 cent higher trade so far on Wednesday’s midday. Cash Bean price is steady $9.89 3/4. Soymeal futures were steady to down $2.60/ton, with Soy Oil futures down another 3 to 39 points. There were 2 deliveries for May soybeans overnight, with none issued for meal and oil.
Later on Tuesday, China and the US agreed to a meeting in Geneva, Switzerland on Saturday. The meeting will take place between Treasury Secretary Bessent and USTR Greer and Chinese Vice Premier He Lifeng. The talks are expected to center on reducing export controls and broader tariffs.
Ahead of the Monday WASDE release, analysts surveyed by Reuters are looking for the World Ag Outlook Board to take the US soybean yield to 52.5 bpa. Production is seen as totaling 4.338 billion bushels.
Brazil’s soybean area is expected to rise by ~500,000 hectares (1.24 million acres) in 2025/26 according to estimates from AgroConsult.
May 25 Soybeans are at $10.35 1/4, up 1/2 cent,
Nearby Cash is at $9.89 3/4, unch,
Jul 25 Soybeans are at $10.41, down 1/4 cent,
Nov 25 Soybeans are at $10.23, up 3 3/4 cents,
New Crop Cash is at $9.60 1/4, up 3 3/4 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.