Soybeans lead the rise in world agricultural prices

Published 2025년 1월 2일

Tridge summary

The agricultural market ended 2024 on a positive note, with all seven commodities showing improvement, particularly soybeans which experienced a second consecutive price increase. However, the gain was limited by selling pressure as prices neared 1,000. Argentine farmers have reduced soybean acreage and increased corn acreage, potentially leading to a shortfall in supplies from Argentina. In the US, soybean deliveries were down in the week ending December 26 due to the Christmas holiday. Contrary to other commodities, corn prices weakened due to profit-taking and positive supply prospects from Argentina.

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Original content

Source: nhandan.vn Farmers harvest soybeans at a farm in Scribber, Nebraska, USA. (Photo: AFP/TTXVN) According to MXV, at the end of the last session of 2024, the agricultural market recorded a positive increase with all 7 commodities simultaneously improving, in which soybeans continued to recover. Specifically, soybean prices recorded the second consecutive increase in the last trading session of 2024. However, selling pressure appeared when prices approached the psychological zone of 1,000, causing the increase to narrow despite strong market fluctuations. According to the Buenos Aires Grain Exchange, Argentine farmers have reduced the soybean acreage compared to initial expectations, while increasing the corn acreage. The agency revised Argentina's soybean planting area for the 2024-25 crop year down to 18.4 million hectares, 200,000 hectares lower than previously forecast due to lower prices. The report said that Argentine farmers have completed planting 84.6% of the expected ...

Source: AgroInfo.vn