CBOT soybeans rise on export sales, oil prices

By Reuters News

CHICAGO, Oct 23 (Reuters) - Chicago Board of Trade soybean futures rose on Friday as export sales offset the impact of harvest pressure, and the energy complex also added strength.

  • The US Department of Agriculture reported net export sales of US soybeans in the week ended October 15 at 2,841,200 metric tons, up noticeably from the prior four-week average but in line with trade expectations for 1.8 million to 3 million tons.

  • The USDA reported on Thursday that exporters sold 202,000 metric tons of soybeans to China for 2026/2027 delivery.

  • Oil prices rose on Friday, with Brent crude touching its highest since early May, after Houthi attacks in Saudi Arabia stoked concern over further disruption to energy supplies from the Middle East, where UAE authorities also reported an oil spill.

  • Some US farmers were finishing their soybean harvest after a stretch of favorable Midwest weather and were shifting to harvesting corn, according to analysts.

  • CBOT November soybeans closed 3-1/2 cents higher at $12.56-1/2 per bushel.

  • CBOT December soymeal ended $1.20 lower at $346.10 per ton.

  • CBOT December soyoil rose 0.09 cent to settle at 66.83 cents per pound.

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