Baxia Markets
By
August 12, 2021

Soybean Price Rises As Demand Drives Up

fundamental analysis top header -01

 

The USDA Crop Progress report Monday afternoon showed corn conditions improving by 2% good to excellent to 64%. This compares with 62% last week and the long-term average at 66.8%. Soybean conditions were unchanged at 60% good to excellent. This is down 5% from the long-term average of 65%. Spring wheat conditions were reported at 11% good to excellent, up 1% from last week. Spring wheat harvest was a little ahead of expectations at 38% harvested.

 

soybean0811

 

The weather condition has been great for crops as rain pushed through some of the driest crop belts in the nation. However, the Chinese market has been purchasing increasing amounts of soybean, leading to an imbalance in supply and demand. The price of Soybean has been on the rise after yesterday’s dip. 

 

We love to hear new ideas from traders and want to know what you think! 

 

If you like this topic and want to suggest future topics that you find helpful, let us know by clicking the ‘submit your feedback’ button below.

 

Open Live Account  

 

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. 

 

Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit. 

Subscribe by Email