American Soybean Prices for Two-Month Contracts Fall to USD 983.75 per Bushel (Monday, August 12, 2024)

Investing.com reports that the price of the two-month American soybean contract today fell 0.3 percent to USD 983.75 per bushel. This price drop is significantly higher than the average price movement over the last week.

Today's price movement, a 0.3 percent decrease, is the highest drop in the last week. Meanwhile, trading since the beginning of the year has continuously declined, with year-to-date (YTD) growth down 22.78 percent.

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

Over the past week, the price of the two-month American soybean contract fell by -4.63 percent, with an average daily transaction price of USD 1000.5 per bushel. As a result, throughout 2024, the price of the two-month American soybean contract has fallen 22.78 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 that transactions in the last 12 months have tended to decrease. The highest average monthly price for the two-month American soybean contract was recorded in September 2022 at USD 1,424.53 per bushel.