American Soybean Prices for Two-Month Contracts Fall to USD 987.75 per Bushel (Friday, August 9, 2024)

Investing.com notes that the price of the two-month American soybean contract today fell 0.58 percent to USD 987.75 per bushel. This price drop is relatively significant compared to the average price movement over the last week.

This week, the two-month American soybean contract saw its highest surge on Monday, August 5, 2024, at 0 percent. Meanwhile, trading since the beginning of the year has continuously declined, with year-to-date (YTD) growth down 22.47 percent.

The current situation completes the downward trend of the two-month American soybean contract price over the past four days.

Over the past week, the price of the two-month American soybean contract has grown by -2.97 percent, with an average daily transaction price of USD 1,011.63 per bushel. Compared to the price at the beginning of the year, the two-month American soybean contract price has grown by -22.47 percent. The highest trading value for the two-month American soybean contract this year was USD 1,274 per bushel, which occurred on Tuesday, January 2, 2024.

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 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.