Soybeans Rally Extends to Thursday, as Traders Factor in Chinese Buying
Update: 2025-10-31
Description
Soybean markets soared on October 31st following the U.S.-China meeting, with prices surging over forty cents during the day. The commitment to buy twelve million metric tons this year and twenty-five million per year for the next three years led to significant gains in soybean futures. The national average price for cash beans rose nearly fourteen cents, while soymeal futures climbed between two to almost seven dollars. However, soy oil futures dropped, falling twenty to over fifty points. The potential removal of tariffs on American agricultural goods could make U.S. soybeans more competitive globally, benefiting farmers and traders alike.
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