Soybeans Price OutlookThe price of soybeans increased over the past month on the back of stronger demand and U.S. supply concerns. Soybeans traded at USD 1,066 cents per bushel on 9 October, which was up 8.9% from the same day last month. Moreover, the price was 13.0% higher on a year-to-date basis and was up 15.3% from the same day last year. Strong U.S. exports in late September, likely tied to China’s efforts to rebuild its pig herd as it recovers from last year’s African swine flu outbreak, exerted upward pressure on soybean prices. Moreover, dry conditions in Argentina and parts of Brazil’s growing regions weighed on supply prospects, while a still-weak USD should have also supported prices. That said, healthy domestic production in the U.S., coupled China’s week-long holiday in early October—which likely hampered demand—should have capped price growth over the past month.
Soybeans Price History Data (USD cents per bushel, aop)
Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
Soybeans Historical Price Chart
Price forecasts and historical data for Energy, Metals and Agricultural Commodities
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