Soybeans are trading with 8 to 11 cents higher in the nearbys early on Wednesday, with November up 3 cents. Futures found late session strength to post 2 to 9 ¾ cent gains, as nearby July was up 14 ½ cents. Open interest was up 19,506 contracts on Tuesday, implying new buying interest. The cmdtyView national average Cash Bean price was up 10 1/4 cents at $11.46. Soymeal futures were $2.30 to $3.40 higher across most contracts, with Soy Oil futures 32 to 83 points higher.
USDA reported a private export sale of 105,000 MT of soybean meal to Colombia for the current marketing year this morning.
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