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AMIS Market Monitor

last release: July 2019

International Prices

Soybean

Reflecting sizeable gains at all major origins, average world prices advanced by 8 percent in June. Strength was tied to heightened worries about the impact of excessive rains on 2019/20 US crop prospects. With a surge in maize values adding support, this more than offset pressure from export demand, as hopes for a quick resolution to the ongoing trade dispute with China remained faint. Since 2018/19 (Sep/Aug) outstanding sales were unusually big, traders were mindful that a portion might be cancelled or switched to the next season. Export quotations in Brazil were buoyed by international demand and US market firmness, while a slowdown in farmer selling and currency movements recently underpinned. Despite a large harvest, Argentine prices moved higher on strong Chinese buying interest.