The price of soybeans on the Chicago Grain Exchange recorded a drop of 8.75 cents in the November/16 contract on Wednesday (12.10), closing at US$ 9.455 per bushel. The January/17 contract fell by 8.25 Dollar cents, while the March/17 contract depreciated by 8.00 Dollar cents.
The North American soybean market experienced a session of heavy losses in the main futures prices after the release of the new supply and demand bulletin from the USDA (United States Department of Agriculture). The 2016/17 harvest was projected at 116.18 million tons, compared to the previous 114.33 million. Stocks increased from 9.93 million to 10.75 million tons.
Source: Agrolink
