Tridge summary
Global soybean prices are experiencing downward pressure due to a strong U.S. soybean harvest and concerns about the Chinese economy's weakness, the world's largest soybean importer. This situation is exacerbated by an oversupply in the market, further driving prices down. Ukrainian producers are actively selling, with the price of GMO soybeans decreasing by €10 due to increased supply and demand. Traders are also reducing prices for non-GMO soybeans in various European markets.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Global soybean prices are under pressure due to a robust U.S. soybean harvest and traders' concerns about the weakness of the Chinese economy, the world's largest soybean importer. This is reported by Spike Brokers analysts. A rate cut in the US is usually positive for commodity markets, but the bearish balance in the soybean market is likely to continue to put pressure on the harvest. Ukrainian producers are actively selling soybeans in all directions. The price of GMO soybeans decreased by €10 compared to last week, under the influence of increased supply. In the direction of ports, traders reduce prices by $10, which also indicates changes in the market. The latest indications of GMO buyers:• DAP Ukraine (Odesa) ~380-385$;• DAP Ukraine (Danube) ~390-395$;• DAP Ukraine (border) ...
Source: Agrotimes
Would you like more in-depth insights?
Gain access to detailed market analysis tailored to your business needs.
Related market data
What to read next
Read more relevant content
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.