Soybean prices rebounded on Tuesday, with the cmdtyView national average cash bean price rising by 6.5 cents to $10.86 1/4. This follows a broader movement in the soy market, where soybean futures increased by 6 to 15 cents. Meanwhile, soymeal futures experienced a decline of $0.80 to $1.00, while soy oil futures rose by 195 to 206 points at midday.
In geopolitical news, President Trump announced that a delayed meeting with China is being reset, with expectations for it to occur in mid to late April 2023. Additionally, the European Commission reported that EU soybean imports from July 1 to March 15 totaled 8.74 million metric tons (MMT), a decrease from 9.81 MMT during the same period last year.
