🌱 Soybeans & Soybean Oil
Overnight: Higher across the board
Soybeans:
Pushed to new annual highs in the morning
Dropped 27 cents from highs after negative China headlines
Recovered partially, trading mid-range
May contract: $11.57½ (down 7½¢)
July: $11.70½ (down 7¢)
November (new crop): $11.22¼ (down 5½¢)
Briefly made new recovery high above last fall’s high
Soybean Oil:
Made new recovery high
Still up over 1 cent per pound
Supported by biofuel policy news
🔥 What Moved the Market?
Trump administration proposing:
Refinery SRE reallocations
Increased biofuel blending requirements
