Soybean prices rose by 7 to 9 cents last week, with a weekly gain of 55 cents. Cash bean price averaged $10.33 1/2. Soymeal futures were up $4.50 to $6.10, with December up $27.50. Soy oil futures fell 68 to 97 points, with December dropping 159 points from last week.

November soybeans averaged $10.35 in October, the harvest price for Crop Insurance. This is up 32 cents from last year but down 19 cents from the spring price.

China bought 4 cargoes of soybeans after the US/China meeting this week.

1.041 billion lbs of soybean oil were used in biodiesel production in August, down 14.48% from last year. This was 39.15% of total biodiesel feedstock, the highest rate since September 2023.

Nov 25 soybeans closed at $10.99 3/4, up 8 1/2 cents. Nearby cash price was $10.33 1/2, up 6 1/4 cents. Jan 26 soybeans closed at $11.15 1/4, up 7 1/2 cents. Mar 26 soybeans closed at $11.23 3/4, up 8 cents.

Read more at Yahoo Finance: Soybeans Rally to Close Out October