• Why are soybean futures prices falling?
  • For more than two years, however, soybean futures prices have been on a firm downward trajectory, declining from a near-10-year high in May 2022 of around $17.30 per bushel to below $11.00 per bushel by mid-July 2024. This trend is partly reflective of the wider bearish sentiment enveloping the grain complex this year.
  • What is Brazil’s soybean crop output in 2023/24?
  • The Brazilian Association of Vegetable Oil Industries (Abiove), meanwhile, recently raised its estimate of the country¡¯s soybean crop output in 2023/24 to 153.2 million tonnes, which is a 700,000-tonne increase from its June forecast of 152.5 million tonnes.
  • What is the soybean supply forecast for 2024/25?
  • ¡°The US soybean supply for marketing year (MY) 2024/25 is forecast at 4.8 billion bushels, 8 percent higher than MY 2023/24 but down 20.0 million bushels from last month¡¯s forecast,¡± the USDA¡¯s July 2024 crop outlook report also stated, thus providing further justification for the recent soybean sell-off.
  • Why are soybean prices so low in 2024?
  • According to Bloomberg, the index¡¯s performance is the worst among the main commodity groups, with energy and metals indexes rising in 2024. In the case of soybeans, increasingly favourable supply conditions have been chiefly responsible for dragging prices lower.
  • How much does a bushel of soybean cost in 2024/25?
  • As such, the agency lowered its forecasted US season-average soybean price for 2024/25 to $11.10 per bushel from $11.20 stated the previous month.
  • How many tons of soybeans did Brazilian farmers sell?
  • According to Martins, Brazilian farmers sold more than four million metric tons (tonnes) of soybeans during the five-day period ended July 5, which is the most for such a period since October 2020, as the real traded at its lowest level against the dollar in more than two years.