Average price of soybeans decreased almost 30% in the first quarter

Market & Price Trends
Published Apr 17, 2024

Tridge summary

The article highlights a significant downturn in soybean prices in the first quarter of the year, with a notable decrease of USD 162 per ton from the previous year's average export price of USD 555 per ton. This price drop is mainly due to an oversupply in the global market coupled with diminished demand from China, the world's leading soybean importer. Despite the lower market prices, Paraguay saw a substantial 53% increase in its soybean exports, rising from 1,685,882 tons in the first quarter of 2023 to 2,580,275 tons in the corresponding period of 2024. However, the decline in soybean prices is raising concerns over agricultural profitability and the potential for future investments in the sector.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to BCP data, the price of soybeans in this first quarter of the year suffered a decrease of USD 162 per ton, since in the same period of 2023 the raw material had registered an average export price of USD 555 per ton. ton. This significant reduction in the price of soybeans impacts the profitability of the agricultural business, therefore, the producer finds himself in a complicated situation, in order to make new investments in the field. Regarding the monthly price, in March the price on the Chicago Stock Exchange reached USD 433.28 per ton, that is, a decrease of 20.8% compared to the same month of the previous year (USD 547.17 per ton). ton). The parent bank explains that abundant global supply and weak demand from China, the largest importer of soybeans in the world, limited upward pressures on ...
Source: Productivacm
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