Soybean Futures Dips – December-26-2023

In 2023, soybean futures dropped by almost 15%, reaching $13 per bushel. This decline follows a 14% increase in 2022. The main reason is Brazil’s anticipated record soybean production, despite challenging weather conditions. Additionally, Argentina might double its soybean yield. Paraguay and Uruguay are also expecting higher outputs. On the demand front, China is making substantial soybean purchases, hinting at a potential new import record for 2023.

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Ethan O. Miller

Ethan O. Miller is a seasoned Forex analyst. His insightful articles offer a unique perspective on currency trends, aiding both novice and experienced traders in navigating the Forex market.

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