Soybeans are trading with fractional gains on Tuesday, September 25, 2023, amidst pressure from a weak bean oil market. The cmdtyView national average Cash Bean price is at $9.76 1/4, up ¼ cent, while soymeal futures have gained between 40 cents and $1.50. Soy oil futures decreased by 172 to 178 points at midday.
Crop Progress data from NASS indicated that 89% of the U.S. soybean crop is setting pods, with 4% dropping leaves, aligning with the 5-year average. Condition ratings increased by 1% to 69% good/excellent, with the Brugler500 index rising by 1 point to 374.
A Chinese trade official is scheduled to meet with U.S. trade representatives this week, as reported by the Wall Street Journal.
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