Soybean falls ahead of US weekly export sales report

Soybean prices fell today, as the dollar rose and ahead of the USDA report about the supply and demand for US agricultural exports.

Observers pointed out that the rising global prices and expectations for cultivation in the US during the current season lifted wheat prices, while soy and corn are pressured from heavy rains in South America, which increase Brazil and Argentina agricultural exports.

Brazilian agricultural commodities forecasters "Agroconsult" said that Brazil's soy crop is estimated to reach 124.3 million tonnes in this season.

While the US and China will sign the phase-one trade deal on January 15.

Soybean futures (March delivery) fell by 0.4% to close at $9.43 a bushel, after hitting a day high of $9.54 and a low of $9.39.