US Soybean Futures Contract Price Drops to US$ 1292.25 per Metric Ton (Friday, December 29, 2023)

Investing.com notes that the price of the two-month American soybean contract today fell 1 percent to US$1292.25 per metric ton. This price drop is relatively significant compared to the average price movement over the past week.

This week, the two-month American soybean contract saw its highest surge on Tuesday, December 26, 2023, at 1.04 percent. It has strengthened by 1.63 percent compared to its year-start position.

The current situation confirms the downward trend in the two-month American soybean contract price over the past two days.

Over the past week, the price movement of the two-month American soybean contract slowed by 1.54 percent, with an average daily transaction price of US$1304.68 per metric ton. As a result, throughout 2023, the price of the two-month American soybean contract has risen 1.63 percent from its year-start position of US$1271.5 per metric ton. From its highest price this year at US$1385 per metric ton, the price of the two-month American soybean contract has fallen 6.7 percent.

Annually, the average trading price of the two-month American soybean contract over the past five years has been on an upward trend. Meanwhile, for monthly price monitoring, transactions in the last 12 months have tended to decline. The highest average monthly price of the two-month American soybean contract was recorded in March 2022 at US$1679.74 per metric ton.