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As of midday trading, November soybeans are down ¼ cent, with cash prices at $9.31 ¼, up ¼ cent. Soymeal futures fell by $1.20/ton, while Soy Oil increased by 65 points. NOPA will release September crush data on Wednesday, and CONAB is set to provide Brazilian soybean production estimates on Tuesday.
On Friday, President Trump announced a 100% tariff on Chinese goods effective November 1, alongside export controls on critical software. In response to increased tensions, markets fluctuated following his remarks to “don’t worry about China.” Additionally, Brazil’s soybean planting reached 14% completion by Thursday, up from 8% last year, and China’s September soybean imports were at 12.87 MMT, with no US-sourced beans in the mix.
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