Soybean quotations in Chicago continue to fall under the pressure of fundamental factors.

Chicago January soybean futures fell by another 2.1% over the last week to $378.5/t (-9.2% for the month) and are trading at last year's level, completely losing the speculative growth caused by expectations of increased soybean sales from the USA to China. Pressure on prices is exacerbated by fundamental factors, including: 1. Very favorable weather conditions for soybean planting in Brazil (with abundant rainfall) are prompting analysts to raise soybean crop forecasts in Brazil for 2025/26 MY to 180 million tons and higher, significantly exceeding the USDA forecast of 175 million tons and the previous season's crop of 171.5 million tons. It should be noted that active soybean harvesting in Brazil will begin at the end of January. 2. A new law in the state of Mato Grosso from January 1 cancels tax benefits for participants in the Amazon forest protection program, so if international traders withdraw from the agreement, it will sharply increase the supply of soybeans (without ...