Soybeans are trading higher on Tuesday after seeing losses on Monday. Open interest decreased by 15,996 contracts, mostly in January. Cash bean price averaged $9.80 3/4. Soymeal futures were down, while soy oil futures were up due to a rise in crude oil prices.

USDA reported a private export sale of 100,000 MT of soybeans to Egypt on Monday morning.

Export Inspections report showed a total of 750,312 MT of soybeans shipped in the week of 12/25, with China, Egypt, and Vietnam as major destinations. Yearly soybean shipments are 46.3% lower than last year.

Political tensions between the US and China increased due to drills by the Chinese military around Taiwan.

Soybean futures closed lower on Jan 26 but are currently up. Nearby cash price was down.

This article is for informational purposes only and does not mention any specific securities.

Read more at Yahoo Finance: Soybeans Trying to Bounce on Turnaround Tuesday