Soybean prices rose on Thursday, with contracts closing 10 to 11 cents higher. Cash Bean price averaged at $9.46 1/4. Soymeal futures also increased by $1.90 to $6.60. Soy Oil futures were up 2 to 7 points.

The harvest price for crop insurance is determined by the average November soybean close during October. The average close so far is $10.18, with the spring price at $10.54.

The White House is considering a potential trade aid package for producers in the range of $10-14 billion. No specific details have been provided yet regarding this aid package.

S&P Global reduced their estimate for the US soybean crop to 53.0 bpa, a decrease of 0.8 bpa from last month’s estimates. Production is estimated at 4.261 bbu.

Nov 25 Soybeans closed at $10.23 3/4, up 10 3/4 cents. Nearby Cash was $9.46 1/4, up 11 1/2 cents. Jan 26 Soybeans closed at $10.41 3/4, up 10 3/4 cents. Mar 26 Soybeans closed at $10.56 1/4, up 10 cents.

Read more at Yahoo Finance: Soybeans Follow Through Higher on Thursday, with Meal Assistance