Chicago soybeans futures rose above $17.7 per bushel in June, closing on the record-high of $18 touched in 2012, amid indications of high demand from top importers and tight supplies from major producers. China, the world’s top consumer, may ramp up purchasing activity as its economy reopens from strict lockdowns. In the meantime, US soybean inspections were below expectations for the second consecutive week pointing to lower exports, while demand for cargos remained high. Adding to woes, surging fertilizer prices due to the war in Ukraine could hamper the bullish production forecasts from major South American producers such as Brazil, Argentina, and Paraguay. Brazil, the world’s largest producer, imports 85% of its fertilizers, mostly from Russia. Historically, Soybeans reached an all time high of 1794.75 in September of 2012. Soybeans Futures are available for Trading in The Chicago Board of Trade (CBOT® ). The United States, Brazil, Argentina and Paraguay are the biggest producers and exporters of soybeans in the world, concentrating more than 80% of total production and 90% of total exports. China is the biggest importer of soybeans (60% of total imports) followed by the European Union, Mexico, Japan and Taiwan. The Soybean market prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.

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