Soybeans Soar: Will the Rally Reach Eleven? Trade Deal Optimism Fuels Futures
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Soybeans Soar: Will the Rally Reach Eleven? Trade Deal Optimism Fuels Futures
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About this listen
This is your Daily Soybeans Price Tracker with Vanessa Clark podcast.
Welcome back to the Daily Soybeans Price Tracker, I am Vanessa Clark, here with your essential rundown on the soybean market for Tuesday, October twenty-eighth, twenty twenty-five. Thanks for joining me for another day of insights, updates, and actionable info you can really use, whether you’re marketing your crop, managing risk, or just want to know where global soybean prices are headed.
Soybean prices are buzzing this week, hitting highs we have not seen in over a year. On the Chicago Board of Trade, November soybeans are currently trading at around ten dollars and seventy-eight cents per bushel, up about eleven cents from yesterday’s close, according to Ever.Ag’s spot market summary. Trading Economics reports the broader spot price surged to ten dollars and eighty cents per bushel, the highest since July twenty twenty-four. That puts soybeans up almost seven percent in the past month, and twelve percent higher than this time last year. All eyes are watching to see if the rally can punch through the psychological eleven dollar mark.
Why are soybeans soaring right now? The spark came from renewed optimism about a possible trade deal between the United States and China. Both sides have been in the headlines this week, building expectations for even bigger Chinese soybean purchases if leaders make progress at the upcoming summit. According to Brownfield Ag News, market analysts say these prices are the strongest we have seen since September last year. The surge in soybeans is also lifting corn and wheat futures, with grains as a group seeing some of their best sessions since summer.
There’s also a lot happening behind the scenes. Market participants are watching the weather in South America, as Brazil’s soybean planting is advancing quickly. Crop consultant Dr. Michael Cordonnier raised his forecast for Brazil’s soybean output this week, noting aggressive planting and expectations for increased acreage, especially in major growing areas like Mato Grosso do Sul. However, a developing La Nina in the Pacific raises concerns about possible drier weather in Brazil, which could change the supply outlook in coming months.
Back in the United States, the harvest is moving along but trailing last year’s pace. The most recent estimates peg the US soybean harvest at around eighty-three percent complete, running behind last year’s record pace of eighty-eight percent. Meanwhile, export data shows shipments of US soybeans lagging last year’s volume, with China still not a major buyer this fall, which has traders cautiously optimistic but also aware that actual sales are what matter.
For those marketing soybeans, analysts suggest this week’s rally presents a significant selling opportunity, especially if you have crop still unpriced. Angie Setzer from Consus Ag Consulting points out that while there may be more upside if a big trade deal materializes, it is smart to put some sales on the books while markets are offering twelve-month highs. Of course, always review your own marketing plan and risk tolerance before making final calls.
Before I wrap up, here’s a quick practical takeaway for today: Stay nimble. The soybean market is being driven by headlines, weather in South America, and harvest pace here at home. Use this window to lock in profits if it makes sense for your operation, and keep an eye on the news from the US-China summit later this week, because that could determine whether this rally runs even further or reverses course.
That’s it for today’s episode of the Daily Soybeans Price Tracker. I am Vanessa Clark, and I appreciate you spending part of your day with me. If you found this update helpful, be sure to subscribe and tune in again tomorrow for more key updates and tips you can trust. Take care, and happy trading!
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