Soybeans Revert Higher on Tuesday

Austin Schroeder Barchart Tue Oct 22, 12:02PM CDT
Pile of soybeans by PAVEL IARUNICHEV via iStock

Soybeans are posting a Tuesday rally of 10 to 13 cents across the front months at midday. Preliminary open interest showed net new buying across most contracts, up 13,560 contracts cross all but the November contract, which was an exodus of 23,780 contracts. CmdtyView’s national front month Cash Bean price is up 13 cents at $9.37 3/4. Soymeal futures are down $1.20/ton in the front months. Soy Oil contracts are 138 points on the session. 

Monday’s Crop Progress report showed the US soybean harvest now 81% complete as of October 20. That is well above the 67% average harvest pace over the last 5 years. All of the reported 18 states were shown with faster than normal harvest pace. 

Nov 24 Soybeans  are at $9.93 3/4, up 12 3/4 cents,

Nearby Cash  is at $9.37 3/4, up 13 cents,

Jan 25 Soybeans  are at $10.00 1/2, up 10 3/4 cents,

May 25 Soybeans  are at $10.26 1/2, up 10 1/2 cents,


On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.