Soybeans Prices

Soybean prices averaged USD 1,035 cents per bushel in October, up 0.7% from September. On 31 October, the commodity traded at USD 1,100 cents per bushel, up 9.8% from 30 September.

In October, soybean prices remained close to September’s average. Market participants were left in the dark after the U.S. Department of Agriculture suspended its benchmark reports on global and domestic production estimates, export sales data, and market dynamics due to the U.S. government shutdown. Nevertheless, soybean prices hit an over one-year high at the end of the month as China and the U.S. reached a trade truce and Chinese imports of U.S. grain resumed.