Soybeans Prices

Soybean prices averaged USD 1,193 cents per bushel in July, up 6.0% from June. On 31 July, the commodity traded at USD 1,172 cents per bushel, up 4.9% from 30 June.

In July, soybean prices rebounded from June’s decline following the end of the short-lived U.S.–Iran truce, which boosted energy prices and sustained demand for biofuel—higher oil costs push consumers to switch to soybean-derived biofuel. On the flipside, improving weather in the U.S. Midwest capped the price increase as markets turned more upbeat on the supply outlook.