last release: April 2017
Global soybean values retreated during March, the IGC GOI sub-Index posting a 5 percent decline to an eleven-month low, under heavy supply-side pressure. Beneficial conditions for fieldwork in South America weighed, with cutting of Brazil’s crop well advanced nationwide and almost complete in the leading producing state of Mato Grosso. Additionally, the likelihood of another increase in plantings for the 2017/18 US crop added to the bearish tone. However, overall losses were limited by strength in soybean product markets, currency movements and good buying interest.