Soybean futures surged 43 to 49 cents in the front months at midday Monday, with the cmdtyView national average cash bean price up 43 1/4 cents at $11.32 3/4. Soymeal futures gained $8.50 to $8.80, while soy oil futures rose 68 to 140 points. USDA’s FGIS reported soybean export shipments of 528,350 metric tons for the week ending July 2, up 19% from the prior week and 31.9% above the same week last year, with China as the top destination. Brazilian trade ministry data showed 14.5 million metric tons of soybeans shipped in June, well above the 13.42 million metric tons in the same month last year.
Soybean futures rally over 40 cents on strong export shipments and demand from China.
Soymeal futures gain $8.50-$8.80, following soybean rally.
Soy oil futures rise 68-140 points, following soybean rally.