Soybean Prices Surge, Export Demand Strong

Soybean prices surged on November fourteenth, with contracts closing ten to thirteen and a quarter cents higher, reflecting a national average cash bean price increase of twelve and three-quarter cents to ten dollars and seventy-three cents. Soymeal futures also rose, while soy oil futures dipped. Strong demand for soybeans was evident in recent export sales data, with eight hundred seventy thousand five hundred thirty-three metric tons sold. The USDA is set to release a backlog of daily sales reports tomorrow, potentially providing further market insights. CONAB, a Brazilian agricultural agency, revised its estimate for the two thousand twenty-five to two thousand twenty-six soybean crop in Brazil, projecting a slight decrease to one hundred seventy-seven point six million metric tons. The soybean market remains robust, driven by solid export demand and anticipation of new data releases.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.