Soybean Prices Rise Amid Strong Front-Month Gains
On Monday, soybean prices rose by 8 to 10 cents in the front months as traders reacted positively. The national average Cash Bean price reached $12.46 per bushel after an increase of 8.5 cents. Meanwhile, soymeal futures climbed between $3.50 and $3.80 at midday while soy oil prices fell by 45 to 55 points across the board. USDA's FGIS reported that soybean export shipments totaled 672,750 metric tons (MT) for the week ending September 10—up 44.8% from the previous week but down 18.2% compared to last year. China was the largest buyer with over 328,000 MT imported. Managed money speculators added 24,848 contracts to their net long position in soybean futures and options, reaching a record high of 266,031 contracts on Tuesday.
Tickers: $CHSCL