Inside: Grain and Raw Material
Soybean price in one fell swoop 15 cents lower
27 March 2017 - Clarisse van der Woude
With a loss of 15 cents, the price of soybeans has fallen sharply. On Friday, the Chicago stock market closed at its lowest point in five months.
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With a settlement of 975.8 cents per bushel, the May 2017 contract reached the lowest closing price since mid-October 2016. High expectations for South American production are putting pressure on the prices of the last American harvest.
Large South American production puts pressure on prices
Supply and international competition are increasing and attention is shifting to the new American harvest. The result is that sales are increasing and everyone is looking forward to Friday's USDA report with acreage figures and quarterly stocks.
In the short term the trend remains negative.
