Soybean prices surged late Tuesday

Soybean Market Update: Late Rally Pushes Prices Higher

Soybean futures experienced a surge toward the end of the trading session, finishing with gains of 5 to 7 cents. An additional 27 delivery notices were posted overnight. The national average cash price for soybeans, according to cmdtyView, increased by 6.5 cents to reach $10.97 1/2. Soymeal contracts advanced between 20 cents and $2.20, while front-month soy oil futures climbed 6 to 12 points.

Traders are closely monitoring developments in the Middle East, especially after China formally urged a cessation of military activities. Meanwhile, trade representatives from the United States and China are scheduled to meet mid-month to prepare for the upcoming Trump and Xi summit at the end of March.

Recent Soybean Price Highlights

• March 26 Soybeans settled at $11.55 3/4, up 5 3/4 cents.
• Nearby cash price reached $10.97 1/2, an increase of 6 1/4 cents.
• May 26 Soybeans ended at $11.70 1/2, gaining 6 1/2 cents.
• July 26 Soybeans closed at $11.83 1/4, up 6 1/4 cents.