Soybean prices plummet in the US

The price of soybeans on the Chicago Grain Exchange recorded a drop of 45.25 cents in the August/17 contract on Thursday (13.07), closing at US$ 9.755 per bushel. The other highlighted commodity maturities on the CBOT also closed the session with devaluations between 44.25 and 46.50 points.

On a profit-taking day, the North American soybean market had a day of sharp drops in the main futures prices. The forecast of improved weather in the largest producing regions put pressure on prices, but the technical correction went far beyond what was expected, which leaves room for recovery this week. 

Source: Agrolink

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