Soybeans Bulls Failing to Hold on Tuesday

Soybeans are showing losses of 3 to 6 cents so far on Tuesday’s midday, with contracts facing some trade pressure. CmdtyView’s national front month Cash Bean price is down 6 cents at $9.29 1/4. Soymeal futures are down $5.90/ton so far on the day. Soy Oil futures are back up 108 points on the session.

President-elect Trump has threatened an additional 10% tariff on Chinese goods on top of any existing tariffs via a Truth Social post form Monday evening. This is in response to assumed drugs coming into the US from China according to the post. This would be seen as a positive for bean oil use by curbing used cooking oil imports, though potential retaliatory tariffs on beans into China is a larger risk.

Jan 25 Soybeans  are at $9.80, down 5 3/4 cents,

Nearby Cash  is at $9.29 1/4, down 6 cents,

Mar 25 Soybeans  are at $9.89 1/2, down 4 3/4 cents,

Jul 25 Soybeans  are at $10.16 1/2, down 3 3/4 cents,

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.