Chicago soybeans futures traded around $14 a bushel in the fourth week of July, amid more favorable weather in the coming weeks and easing demand in top buyer China. Weather models forecast fresher temperatures across key US growing regions with wet weather in parts of the US Midwest. Chinese imports of soybeans in June declined 4% from a year earlier and are seen down 18% in July amid a drop in hog sector profitability and an increase in wheat feed use.
Historically, Soybeans reached an all time high of 1794.75 in September of 2012. Soybeans - data, forecasts, historical chart - was last updated on July of 2021.
Soybeans is expected to trade at 1495.73 USd/BU by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1676.16 in 12 months time.