Yesterday at a glance: Soybeans rose $19 to close at $1,436.75 per bushel yesterday which makes for a move of 1.34%.
Uptick comes while some more positive signs for Soybeans are out as United States Average Hourly Earnings beat analyst expectations of 0.3% and the previous reading of 0.3% with new data of 0.5%. United States Non Farm Payrolls came out at 253,000, better than analyst estimates of 180,000 and improving upon the previous reading of 165,000. Highly important Unemployment Rate data from United States beat analyst expectations of 3.6 with a reading of 3.4.
This rally in the Soybeans future's price coincides with other Grains as notably, Rough Rice rose 1.75% yesterday and closed at $17.98. Corn added 1.4% and closed around $589 yesterday. Oats increases 2.51% yesterday and closed at $319.
Trading mostly sideways for 2 months. Having set a significant high of $1,746.75 10 months ago, Soybeans is trading 18.83% lower.