# Soybean Falls Below $10 As Foreign Demand Firms

> November soybean futures fell about 0.6% to $9.97 per bushel on the Chicago Board of Trade, dropping below $10 for the first time since mid-September. Prices had slipped on quieter foreign buying and expectations that the next USDA crop progress report would show lower crop ratings. Soybeans were still on track for a monthly gain of about 5%.

- Date: 2020-09-28 · published 2020-09-28T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/51153-soybean-falls-below-10-as-foreign-demand-firms
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Softer foreign buying and expected lower crop ratings are pressuring near-term soybean futures, which lowers the cost of soybean meal and feed ingredients for buyers. The larger monthly gain and strong China demand still support prices over the longer run.

## Read by commodity

- SOY: bearish ▼

## Sources

- fxdailyreport.com: https://fxdailyreport.com/soybean-falls-below-10-as-foreign-demand-firms/

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