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On Monday, soybean contracts saw a marginal increase of 2½ cents, with November soybeans averaging $10.18 across the nine sessions leading up to October. The national average cash bean price rose by 1¾ cents to $9.33¾. Soymeal futures decreased by 40 cents to $1.00/ton, while soy oil increased by 53 to 64 points.
On Friday, President Trump announced a new 100% tariff on Chinese goods starting November 1 and export controls on critical software, impacting market reactions positively. Meanwhile, Brazil’s soybean planting has progressed to 14% complete, up from 8% last year. In September, China imported 12.87 million metric tons of soybeans, up from 12.28 million metric tons in August, with no shipments sourced from the U.S.
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