Soybeans Price OutlookThe price of soybeans increased to a over four-year high over the past month due to healthy demand conditions and supply concerns—particularly in Brazil. Soybeans traded at USD 1,102 cents per bushel on 6 November, which was up 5.5% from the same day last month. Moreover, the price was 16.8% higher on a year-to-date basis and was up 18.8% from the same day last year. U.S. exports in late October remained well above the weekly pace required to meet the USDA’s export projections, which likely exerted upward pressure on soybean prices. Moreover, growing regions in Brazil were battered by poor weather, while the ongoing development of a La Niña weather pattern continued to spark concerns of drier conditions in Argentina, which weighed on supply prospects and should have also boosted prices. That said, healthy domestic production in the U.S. and projections for improved weather conditions ahead likely 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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