CBOT Soybean Futures Rise After Eight‑Session Decline
Chicago Board of Trade (CBOT) soybean futures closed higher on Wednesday, breaking an eight‑session losing streak. The July soybean contract settled up 9‑¼ cents, or 0.8%, at $11.23 per bushel, after having fallen to $11.10‑¼ on Tuesday, the lowest level since February 4. The November soybean contract also posted gains, rising 6‑½ cents, or 0.6%, to $11.38‑½ per bushel.
In related oilseed markets, July soymeal finished 80 cents higher, a 0.3% increase, at $301.90 per short ton, while July soyoil rose 0.42 cent, or 0.6%, to 75.33 cents per pound.
Crude oil futures moved higher after President Donald Trump stated that the United States would “attack Iran very hard” if a peace deal is not finalized, providing additional support to soybeans and soyoil, which sometimes track crude oil due to biodiesel demand.
Analysts surveyed by Reuters anticipate that the U.S. Department of Agriculture’s Thursday supply‑and‑demand report will raise its estimates of soybean harvests in Brazil and Argentina. Weather forecasts indicate widespread rain across the Midwest this week and cooler temperatures following an expected late‑week heat, conditions expected to benefit crop germination and early growth, thereby limiting further price gains.
This article was generated with the support of AI and reviewed by an editor.