Soybean trading saw gains of 10 to 11 cents on Tuesday, with the cmdtyView national average cash bean price increasing by 10.5 cents to $10.55. Soymeal futures rose by $2.40, while soy oil futures gained 37 to 38 points.
The USDA’s latest WASDE report maintained the US ending stocks projection at 350 million bushels, with Brazil’s production forecast raised by 2 million metric tons to 180 million metric tons. Argentina’s estimate remains at 48.5 million metric tons. Additionally, global ending stocks were adjusted up by 1.1 million metric tons to 125.51 million metric tons.
