The price of soybeans on the Chicago Grain Exchange recorded a drop of 15.25 cents in the May/17 contract on Friday (24.03), closing at US$ 9.7575 per bushel. The July/17 contract also fell by 12.25 US cents – the same drop recorded in the August/17 contract.
The North American soybean market closed the week with investors liquidating positions, which caused heavy losses in the main futures prices. There was widespread selling with the confirmation of the abundant supply of oilseeds in South America, which added to the high stocks in the United States, much higher than last year.
agrolink
