Soybeans Price OutlookSoybean prices held broadly steady in October, hovering just above the near-decade lows recorded in September after the U.S. announced additional tariffs on Chinese imports. On 2 November, soybeans traded at USD 817 cents per bushel, which was up 2.3% from the same day last month. The price was 11.1% lower on a year-to-date basis and was down 14.0% from the same day last year. In mid-October, prices spiked as the U.S. Department of Agriculture unexpectedly cut soy production forecasts; however, they swiftly fell after U.S. soy farmers cited a strong harvest. Analysts’ projections for the biggest harvest in U.S. history, averaging 53.1 bushels per acre, further weighed on prices. Although Chinese demand for U.S. soybeans officially plummeted following this year’s tariffs, export-import data suggests the commodity is finding alternative routes into China’s market via other countries—thereby avoiding tariffs and a further collapse in prices.
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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