Soybeans close slightly lower on news over South America's corps

Economies.com
2020-01-07 21:47PM UTC

Soybean prices slipped Tuesday, after reports about heavy rain in South America, which increase the volume and quality of agricultural crops in the continent.

 

Markets are still waiting for the US and China signing of the phase-one trade deal, due January 15, which will increase Chinese purchases of US farm goods once again.

 

Investors are also eyeing the winter season in Brazil and Argentina, which supports the quality and volume of corn and soy crops in these major exporters.

 

The USDA will release later this week its report on the US exports of agricultural crops, which has a significant impact on prices in the CME.

 

Soybean March futures fell by 0.1% to close at $9.44 a bushel, and hit a day high of $9.47 and a low of $9.37.

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