US$1247.5 per metric ton (Rp. [Amount in Rupiah needs to be calculated based on the exchange rate on January 10th, 2024]) was the price of the two-month forward contract for American soybeans traded during daytime hours on Wednesday, January 10, 2024.

Investing.com notes that the price of the two-month American soybean contract today fell 0.02 percent to US$1247.5 million rupiah. This price drop is relatively significant compared to the average price movement over the past week.

Throughout this week, the price of the two-month American soybean contract saw its highest surge on Tuesday, January 9, 2024, at 0.18 percent. However, trading since the beginning of the year has continuously declined, with year-to-date (YTD) growth at 2.08 percent.

The current situation is similar to the previous two-month American soybean contract price movement, which is currently in a downward trend.

Over the past week, the price movement of the two-month American soybean contract slowed by 3.56 percent, with an average daily transaction price of US$1256.57 million rupiah. As a result, throughout 2024, the price of the two-month American soybean contract has fallen 2.08 percent from its year-beginning position of US$1274 million rupiah. In fact, from its highest price this year at US$1274 million rupiah, the price of the two-month American soybean contract has fallen 2.08 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 million rupiah.