US soybean prices fell sharply last week

Introduction: US soybean prices fell sharply last week due to a combination of weak fundamentals and falling futures prices Soybean prices have fallen nearly 3% in some parts of the US interior In the past week, CBOT soybean futures contract price in January fell about 11 cents, the same time at 5:00 at 4241 / 4 cents closed This is the lowest price since the end of April A grain trader in Indiana said: "this week, the stopper of soybean futures price decline is opened, and the market short momentum is firmly pouring out Changes in the market fundamentals also do not provide any support to withstand the downward trend " CMT despite the sharp decline in the soybean futures market and the light domestic soybean trading in the United States, the transaction price of the soybean transported by truck in the mainland of the United States fell by an average of 1 / 4 cent "While export sales and domestic processing are doing very well, the soybean fundamentals are disappointing," said one analyst The weakness of CMT soybean market can be directly linked with the expectation that soybean production in South America will reach a new high "The weather in South America in January will provide direction for the change of soybean market price Judging from the change of soybean market this week, people think that the weather in South America will be very good," said David Fiala, chief analyst of futuresone in Nebraska CMT Brazil's analysis company believes Brazil's soybean production will be 43 million tons, which is 1.5 million tons higher than the U.S Department of agriculture's forecast CMT soybean prices in the US Gulf of Mexico actually increased by one cent This is mainly because the export there is very good The view of the business analysis company is that unless the weather in South America is extremely unfavorable, the basic situation of soybeans will continue to be negative, there will be a small rebound in February, and further expansion in March and April CMT