Soybean price on the rise

The rising price of soybeans is mainly due to the drought in Argentina. Although rain has fallen, this remains a risk for the harvest in the country. As a result, the expected production in the country could be 20% lower and therefore probably amounts to 45 to 46 million tons. Earlier expectations were still 54 to 56 million tons. The European stock exchanges are piggybacking on the developments on the other side of the ocean.

(Text continues below the chart)The soybean price rose to its highest point in six months.

Brazil and China
While Brazil's crop and export forecasts rose last week, wetness at the peak of the harvest is causing quality issues. This also makes soybean buyers willing to pay higher prices for the product.

There is one final explanation for the higher soybean prices. For example, it became known that China is studying the possibility of import duties for soy from the United States. This has already resulted in the cancellation of exports of about half a million tons of soybeans from the United States to China.

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