Friday 18th September 2020

Soybeans closed higher. July soybeans closed at $8.76 and a half, a new two month high, even without any reported export sales Friday.  U.S. soybeans remain cheaper than Brazil’s.  Vegetable oil demand is growing with spot sales for both palm oil and soybean oil reaching new three month highs., also helped by Friday’s higher crude oil price. Beans have a neutral price outlook and more bullish potential than corn. The trend is up in cash soybean prices in spite of the ongoing trade dispute with china and feed demand concerns related to coronavirus.