Chicago soybeans futures rose to $14.4 a bushel, its highest level since June 2014, buoyed by concerns over shrinking inventories due to harvest delays in top exporter Brazil. Dry weather delayed soybean planting in Brazil in late 2020 and persistent rains disrupted harvest this year. Prices were further underpinned by continued robust demand from China and as US soybeans supplies are likely to remain tight this season.
Historically, Soybeans reached an all time high of 1794.75 in September of 2012. Soybeans - data, forecasts, historical chart - was last updated on February of 2021.
Soybeans is expected to trade at 1372.40 USd/BU by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1268.86 in 12 months time.