Soybeans posted gains of 7 to 9 cents across most contracts on Friday, helping to push the weekly gain to 55 cents. The cmdtyView national average Cash Bean price was 6 1/4 cents higher at $10.33 1/2. Soymeal futures were up $4.50 to $6.10, with December rallying $27.50 on the week. Soy Oil futures were 68 to 97 points lower, as December fell 159 points since last Friday.
November soybeans averaged a close of $10.35 throughout October, which should be the harvest price for Crop Insurance. That is up 32 cents from last year but down 19 cents from the spring price.
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China reported purchased another 4 cargoes of soybeans following the US/China meeting this week.
EIA data showed a total of 1.041 billion lbs of soybean oil used in biodiesel production in August. That was down 14.48% yr/yr and 6.09% below July. It was also 39.15% of the total biodiesel feedstock in August, which was the highest inclusion rate since September 2023.
Nov 25 Soybeans closed at $10.99 3/4, up 8 1/2 cents,
Nearby Cash was $10.33 1/2, up 6 1/4 cents,
Jan 26 Soybeans closed at $11.15 1/4, up 7 1/2 cents,
Mar 26 Soybeans closed at $11.23 3/4, up 8 cents,
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