
November soybeans rose $3.40 per tonne on Friday to close at $437.35 per tonne in Chicago, but fell 2.62% over the week. In Rosario, spot soybeans held at 535,000 pesos per tonne on Friday, down 1.83% from the previous week.
Analysts expected the USDA to raise its estimate of U.S. soybean production to a record level.
The expected larger U.S. crop could add to supply pressure on soybeans, despite Friday’s recovery as traders covered short positions and bought after prices touched a low. The week ended lower overall.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.