Soybeans fall on Middle East tensions and US weather

Soybean prices on the Chicago Stock Exchange ended the week down, influenced by the truce in the conflict between Israel and Iran and good weather conditions in the United States. The price per bushel fell to US$ 10.22 on June 26, after reaching US$ 10.74 during the first days of the war in the Middle East.

According to the International Center for Economic Analysis and Agricultural Market Studies (CEEMA), the U.S. winter wheat harvest reached 19% as of June 22, while 93% of spring wheat had already germinated. Despite this, crop conditions are not ideal, with 19% assessed as poor or very poor.

While the US projects to export 22.4 million tonnes in 2025/26, Russia estimates a volume of 45 million tonnes. As a result, the country remains the main global supplier of the cereal. The Russian product is the most competitive on the market. Average prices are US$$ 225 per tonne, compared to US$$ 252 in the US and US$$ 236 in Argentina and France.

In South America, prices remain under pressure, and the market remains tight in Uruguay and Paraguay. In Argentina, prices remain low, reflecting weak demand. The global outlook suggests that the downward trend will continue in the short term, with global inventories rising and international demand still weak.

Source: Aline Merladete | agrolink