CBOT soybeans end higher on USDA data, tariff news
Chicago Board of Trade soybean futures settled higher on Thursday following the U.S. Department of Agriculture's monthly supply and demand report release, and were buoyed by U.S. President Donald Trump announcing a pause on tariffs for many countries, analysts said.
CBOT May soybeans (SK25) settled up 16-1/4 cents to end at $10.29 a bushel.
CBOT May soymeal (SMK25) ended up $3.40 at $297.90 per short ton.
CBOT May soyoil (BOK25) rose 0.13 cent to finish at 46.32 cents per pound.
The USDA lowered its 2024-25 corn stocks forecast on Thursday to 1.47 billion bushels from 1.54 billion in March.
Analysts expected 1.51 billion, according to a Reuters poll.
Analysts said soybeans continued to get support from a 90-day pause announced by Trump on Wednesday on a wide swath of tariffs on goods imported into the U.S., which he issued last week.
