Soybean Market Holds Steady Amid Tariff Ruling

Soybean contracts remained stable at midday, showing minor fluctuations with prices up slightly or down by 3 cents. The cmdtyView Cash Bean price increased by 0.5 cents, reaching $10.02 1/4. Soymeal futures rose by $2.70 per ton, while Soy Oil futures decreased by 83 points.

On Wednesday, a federal trade court ruled that President Trump’s tariffs on liberation day were illegal, stating he exceeded his authority. The ruling requires the President to halt the tariffs within 10 days, but the White House is appealing the decision.

Export Sales data has been postponed to Friday morning due to the Monday holiday. Analysts anticipate old crop bean sales between 150,000 and 500,000 metric tons, and new crop bean sales from 0 to 250,000 metric tons. Bean meal sales are expected to range from 150,000 to 450,000 metric tons, while bean oil estimates fall between 5,000 and 32,000 metric tons.

Jul 25 Soybeans are priced at $10.49, up by 0.5 cents.

Nearby Cash stands at $10.02 1/4, also up by 0.5 cents.

Aug 25 Soybeans are at $10.45 1/4, unchanged.

Nov 25 Soybeans are at $10.34 1/2, down by 3 cents.

New Crop Cash is at $9.72 1/4, down by 2 3/4 cents.

At the time of publication, Austin Schroeder did not hold positions in any mentioned securities. All information is for informational purposes only. For further details, view the Barchart Disclosure Policy.
here.

More news from Barchart

The views expressed in this article are those of the author and do not necessarily reflect the views of Nasdaq, Inc.