Soybeans Hit Nearly 9-Week Low

Soybean futures fell to around $12.40 per bushel, reaching their lowest in nearly nine weeks as expectations for ample global supplies and continued US harvest progress offset strong export demand.

Favorable, mostly dry weather across the US Midwest has allowed farmers to advance fieldwork, with 64% of the soybean crop harvested as of October 18, close to the five-year average of 65%.

Meanwhile, Brazil’s 2026/27 planting is progressing ahead of last year, raising prospects for additional supplies in the coming months.

A weaker Brazilian real could further improve the competitiveness of Brazilian soybeans against US supplies, potentially challenging American export prospects.

This story was originally published by Hellenic Shipping News. Read the full story at Hellenic Shipping News →