“`html
Soybean futures experienced a morning increase of 7 to 8 cents on Thursday, following significant overnight volatility that saw November and January contracts fluctuate within a 44-cent range. The cmdtyView national average cash bean price rose by 2 1/4 cents to $10.13 1/2, while open interest dropped by 11,267 contracts on Wednesday. November soybeans have averaged a close of $10.29 in October, compared to last year’s harvest insurance price of $10.03.
Following a meeting between President Trump and Chinese President Xi, China committed to purchasing 12 million metric tons (MMT) of soybeans for the current year and promises to buy 25 MMT annually for the next three years. A Reuters survey indicated soybean sales for the week ending on October 23 were expected to be between 0.6 and 1.6 MMT, with soymeal sales projected at 50,000 to 500,000 MT.
Rabobank forecasts Brazilian soybean production for the 2025/26 season to reach 177 MMT, supported by a 2% increase in planted acreage. As of now, November soybeans closed at $10.80 1/4, with January and March contracts at $10.94 1/2 and $11.05 1/4, respectively.
“`
