The price of soybeans on the Chicago Grain Exchange recorded a drop of 10.75 cents in the May/17 contract on Thursday (09.03), closing at US$ 10.11 per bushel. The July/17 contract also fell 3.50 cents on the Dollar, while the August/17 contract depreciated 10.25 cents on the Dollar.
The North American soybean market suffered heavy losses in the main futures prices following the announcements of the USDA's new monthly supply and demand bulletin. The United States Department of Agriculture revised the Brazilian soybean harvest above market expectations (to 108 million tons), as well as reducing forecasts for US oilseed exports.
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