Soybean prices in the US fell to a one-month low

Updated Sep 22, 2023
Prices fell for the better during Thursday's trading on the crop markets. In Chicago, wheat became cheaper by 2.1 percent, corn by 1.3 percent, and soybeans by 2 percent, while the price of canola rose by 0.3 percent. In Europe, all four priority agricultural products, mill wheat, corn, rapeseed and fodder wheat, closed in the red.
U.S. soybean futures fell to a one-month low on Thursday, while corn and wheat futures were held near multiyear lows on subdued weekly export sales and news of an expanding U.S. crop and economic concerns. Soybean prices fell earlier in the day after the US Department of Agriculture (USDA) reported US soybean exports of 434,100 tonnes for the week to September 14, below the range of trade expectations. Weekly corn sales of 566,900 tons were near the bottom of expectations. The USDA confirmed the sale of 137,160 tons of U.S. corn to Mexico, but that did little to improve sentiment. Demand for U.S. grain exports has lagged amid ample supply from Brazil, a stable dollar and low Mississippi River levels, the latter of which has slowed the movement of barges to export terminals. Export problems have overshadowed uncertainty about the size of the U.S. crop in drought-stricken areas. There are still expectations that both USDA corn and soybean yields will decline going forward, but that ...
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