Commodities
Soybean Prices Surge on Strong Export Numbers
Soybean prices are rising on Monday, with front-month contracts up by $0.08 to $0.10.
The cmdtyView national average Cash Bean price increased by $0.085 to $12.46, while soymeal futures rose $3.50 to $3.80.
Soy oil prices, however, fell 45 to 55 points across the board.
The USDA's FGIS reported a significant increase in soybean export shipments during the week ending September 10, with 672,750 MT (24.72 mbu) shipped, which is 44.8% above the previous week and 18.2% lower than the same period last year.
China was the top destination for these exports, receiving 328,245 MT, followed by Indonesia at 74,200 MT and Japan at 65,070 MT.