American Soybean Futures Prices for Two-Month Contracts Fall to USD 1216.12 per Bushel (Wednesday, January 31, 2024)

Investing.com notes that the price of the two-month American soybean contract today fell 0.34 percent to USD 1216.12 per bushel. This price drop is relatively significant compared to the average price movement over the last week.

Yesterday, the two-month American soybean contract experienced its highest surge on Tuesday, January 30, 2024, reaching 2.18 percent. However, trading since the beginning of the year has shown a continuous decline, with a year-to-date (YTD) growth of -4.54 percent.

The current situation is similar to the previous trend of the two-month American soybean contract, which has been declining.

Over the past week, the two-month American soybean contract price movement slowed by 0.66 percent, with an average daily transaction price of USD 1220.37 per bushel. As a result, throughout 2024, the price of the two-month American soybean contract has fallen 4.54 percent from its year-start position of USD 1,274 per bushel. The highest trading value for the two-month American soybean contract this year was USD 1,274 per bushel, recorded on Tuesday, January 2, 2024.

Annually, the average trading price of the two-month American soybean contract over the past five years has shown an upward trend. Meanwhile, monthly price monitoring shows a downward trend in transactions over the past 12 months. The highest average monthly price for the two-month American soybean contract was recorded in March 2022 at USD 1679.74 per bushel.