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Soybeans are experiencing a price increase on Thursday, with contracts rising by 7 to 9 cents. The cmdtyView national average cash bean price is now $9.43 1/2, which is up 8 1/2 cents. Soymeal futures have increased by $4.30 to $4.80, while Soy Oil futures are up by 15 to 20 points.
This rally follows a recent statement from President Trump indicating that soybeans will be a topic of discussion in an upcoming meeting with President Xi of China. Additionally, Secretary Bessent mentioned that news, likely indicating a potential trade aide for producers, would be forthcoming on Tuesday. StoneX has revised its estimate for the US soybean crop to 53.9 bushels per acre, a 0.7 bushel increase from last month, projecting production at 4.326 billion bushels.
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