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2025-07-28 17:49:36
[A bumper harvest is in sight, global soybean and corn prices plunge, is the time for bears to revel? ]? ⑴ Chicago soybean futures prices fell due to ample global supply, weak demand and good weather in the Midwestern crop belt of the United States. ⑵ As of 17:35 Beijing time, the main soybean contract fell 0.6% to US$10.14 per bushel. ⑶ Corn prices were also under pressure due to market expectations of a bumper harvest in the United States, falling 0.8% to US$3.96 per bushel. ⑷ As the harvest season in the northern hemisphere accelerates and the global supply outlook is optimistic, wheat prices have weakened accordingly, falling 0.9% to US$5.33-1/2 per bushel. ⑸ Analysts at Australia's IKON Commodities pointed out that the soybean market is facing pressure from bumper harvests in the United States and the world, and it is difficult to get a substantial boost in the coming months. ⑹ In addition, weak US export sales data further exacerbated the downward pressure on the soybean market. ⑺ Although the US-EU trade agreement has been reached, the market is still unable to make a judgment due to the lack of details on agricultural product tariffs. ⑻ Traders were generally relieved that a more damaging trade war had been avoided
