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Soybean contracts rose 2 to 4 ¼ cents on Tuesday, closing at $10.22 for November soybeans, with the cmdtyView national average cash bean price at $9.44 1/4. Soymeal futures showed mixed results, while soy oil futures gained 38 to 74 points. Notably, the average price for November soybeans through the first five trade days of October is $10.19, relevant for crop insurance purposes.
There will be no USDA Crop Production report this week due to the government shutdown, although a Reuters survey predicts a yield of 53.2 bpa, a decrease of 0.3 bpa from September and a production decline of 30 million bushels to 4.271 billion bushels.
The European Commission reports that EU soybean imports for the 2025/26 period are at 3.28 MMT from July 1 to October 5, down from 3.41 MMT in the same period last year, while meal imports stand at 4.77 MMT, slightly behind last year’s 4.8 MMT.
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