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Latest From Bill Tiedje
Soybean futures recovered somewhat on Friday after US and Chinese negotiators cited progress in the latest round of trade talks. Soymeal and soyoil contracts also ended higher. March soybeans gained 4¢ at USD9.07 1/2.
Soybean futures settled at one-month lows Thursday, after weekly sales data revealed Chinese buyers cancelled some earlier soybean sales commitments in the first reporting week of 2019. Soymeal and soyoil contracts also ended lower. March soybeans lost 13¢ at USD9.03 1/2.
Soybean futures ended slightly lower Wednesday, along with losses in soyoil contracts. Soymeal contracts posted modest gains. March soybeans lost 1¢ at USD9.16 1/2.
Soybean futures bounced back from Monday’s losses after Brazilian agricultural agency CONAB reduced its production forecast for the country. Soymeal contracts and soyoil contracts also ended higher. March soybeans gained 12 1/2¢ at USD9.17 1/2.
Soybean futures traded lower Monday in part as weekly data pointed to slowing export performance in the first week of February. Soymeal contracts and soyoil contracts also ended lower. March soybeans lost 9 1/2¢ at USD9.05.
Soybean futures ended slightly higher Friday after USDA lowered its US and Brazil soybean production forecasts, mostly in line with pre-report expectations. Soymeal contracts and soyoil contracts also ended slightly higher. March soybeans gained 1 1/4¢ at USD9.14 1/2.