# Soybean Prices, Meal Break Support in Early 2024

> DTN says July soybeans fell below support on January 2 and closed at a six-month low of $12.69 3/4 after rains improved central Brazil. Soymeal has turned bearish since December as prices hit two-month lows.

- Date: 2024-01-08 · published 2024-01-08T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/32218-soybean-prices-meal-break-support-in-early-2024
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Improved Brazilian crop prospects and expectations of larger South American supplies weigh on soybean and meal prices, lowering feed costs.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/blogs/technically-speaking/blog-post/2024/01/08/soybean-prices-meal-break-support

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.