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Market Update: Soybeans Futures Hover Close to 9-Month Low
Chicago soybeans futures hovered below $13 a bushel, close to a 9-month low of $12.6 hit on September 9th, as traders monitored US exports and the harvesting season. Farmers in the American Midwest have been reaping soybean crops for weeks without setbacks, raising concerns about pileups of inventories at a time when operations at exporting ports in the US Golf still hadnt fully recovered from the impact of recent hurricanes. According to the USDA, export volumes as of September 16th were less than 70% than those observed during the same period of 2020. [/s2If]
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