Soybeans Gain, USDA Sales Boost Market

Soybeans opened the holiday week on a high note, with gains of four to five and a half cents. The national average cash bean price climbed four and a quarter cents to nine dollars and eighty-three cents and three-quarters. Soymeal futures rose fifty cents, while soy oil futures bounced back fifty-eight to sixty-seven points, aided by a rise in crude oil prices. The USDA announced a private export sale of three hundred ninety-six thousand metric tons of soybeans to China, marking a positive start to the new year. Despite a forty-six percent drop in exports this marketing year, export sales for the week of December fourth were strong, and the market heads into the new year with cautious optimism.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.