Soybeans Prices

Soybeans prices averaged USD 983 cents per bushel in December, down 1.6% from November. On 31 December, the commodity traded at USD 998 cents per bushel, up 0.9% from 29 November.

Average soybean prices were down month on month amid an upbeat supply outlook. The USDA held its U.S. ending stocks projections stable, defying market expectations of a reduction. Additionally, optimism regarding South American output persisted; Brazil remained on track for a record harvest following recent rains. That said, concerns over dry weather in Argentina later in the month lifted prices somewhat.