Soybeans futures price holds at $13

Soybeans futures price holds at $13.10, with front-month contracts showing stronger momentum than deferred months. This contango shift underscores near-term fundamental strength compared to long-run expectations. On Thursday, U.S. Treasury Secretary Scott Bessent said the government would make an announcement on Tuesday about support for farmers. The June soybean CFR China (Brazil) premium was assessed at 143 cents per bu over July CME futures, 1 cent per bu lower from the previous assessment and equivalent to an outright price of $436.5 per tonne. Soybeans futures price touched $13.10 after a jump in weekly U.S. crush rates. Industry analysts argue that strong domestic processing demand could anchor prices above $13.00 in the short run.