Soybeans Prices

Soybean prices averaged USD 1,012 cents per bushel in March, down 2.7% from February. On 31 March, the commodity traded at USD 1,015 cents per bushel, up 0.3% from 28 February.

Average soybean prices fell to a three-month low in March. Retaliatory Chinese levies on U.S. exports and uncertainty regarding potential tariffs from Mexico weighed on prices. On the flipside, exports from Argentina were the slowest at this time of the year in ten years as farmers anticipated a weaker peso and tax relief from the government. Additionally, the USDA cut sharply its projections for soybean plantings this year, which further limited the price decline.