Soybeans Price OutlookSoybean prices dipped from last month, primarily due to two reasons: The U.S. Department of Agriculture unexpectedly raised its soybean production forecasts for the 2017–18 harvest season, and the U.S. Environmental Protection Agency announced it was considering cutting how much biofuel must be mixed into the country’s fuel supply. On 6 October, soybeans traded at USD 927 cents per bushel, which was 1.1% lower than on the same day in September. Moreover, the price was down 5.1% on a year-to-date basis but was 0.2% higher than on the same day in 2016. Demand conditions in key markets such as China remain strong, while supply conditions could have a hand to play going forward. In its production forecasts last month, the U.S. Department of Agriculture noted that the effects of Hurricanes Harvey and Irma were not fully taken into account, leaving room for a possible downward revision. Additionally, production in India is also set to drop significantly in the 2017–2018 harvest season, by as much as 22% compared to the last season, following droughts and a reduced yields of soybeans.
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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