Soybeans Rebound: Positive Shift in Market Sentiment

Soybean prices experienced a surprising turnaround on November thirteenth, with front month futures contracts rising by six to seven and one-quarter cents, indicating a positive shift in market sentiment. The total deliveries for November futures reached one thousand seven hundred thirty-six, and the national average cash bean price increased by six and three-quarters cents to ten dollars and sixty cents. Soymeal futures climbed, while soy oil futures dipped slightly. Looking ahead, important crop production data is expected to be released this Friday, with anticipated slight drop in soybean yield and ending stocks projected to reach three hundred four million bushels. The market is also closely watching export demand, especially with the absence of recent export sales reports and Chinas yet-to-be-confirmed commitment of twelve million metric tons announced in late October.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.