Key Points:
Soybean and wheat prices saw further declines on Monday, largely driven by the strength of the U.S. dollar, which has continued to make U.S. agricultural exports more expensive for global buyers.
Soybeans ended the session at 10.31, and wheat closed lower at 5.66, with both commodities facing pressure from a rising U.S. dollar.
Picture: Soybean prices continue their downtrend as global demand weakens, as seen on the VT Markets app.
Soybeans and wheat are also feeling the impact of record U.S. harvests this season. U.S. farmers are expected to harvest one of the largest soybean crops in recent years, while wheat supplies remain abundant.
This supply glut, coupled with dollar strength, is dampening demand for U.S. exports. Wheat prices are also influenced by persistent supply-chain risks in the Black Sea region and ongoing conflict in Ukraine.
Picture: Wheat prices fall amid bearish momentum and strong U.S. Dollar, as seen on the VT Markets app.
Speculative traders have started to trim their short positions in both markets, indicating that some expect further downside but are cautious about any potential rebounds.
You might also be interested in: Wheat Holds Steady Below a 3.5-month High as Supply Risks Persist | VT Markets
As U.S. farmers continue their harvests, soybean and wheat markets will remain sensitive to global demand shifts and further fluctuations in the U.S. dollar.
Watch for any shifts in demand, especially for exports, which could signal potential price rebounds or further declines.
Start trading now — click here to create your live VT Markets account.
Pendidikan
Perusahaan
Pertanyaan Umum
Promosi
Risk Warning: Trading CFDs carries a high level of risk and may not be suitable for all investors. Leverage in CFD trading can magnify gains and losses, potentially exceeding your original capital. It’s crucial to fully understand and acknowledge the associated risks before trading CFDs. Consider your financial situation, investment goals, and risk tolerance before making trading decisions. Past performance is not indicative of future results. Refer to our legal documents for a comprehensive understanding of CFD trading risks.
The information on this website is general and doesn’t account for your individual goals, financial situation, or needs. VT Markets cannot be held liable for the relevance, accuracy, timeliness, or completeness of any website information.
Our services and information on this website are not provided to residents of certain countries, including the United States, Singapore, Russia, and jurisdictions listed on the FATF and global sanctions lists. They are not intended for distribution or use in any location where such distribution or use would contravene local law or regulation.
VT Markets is a brand name with multiple entities authorised and registered in various jurisdictions.
· VT Global Pty Ltd is authorised and regulated by the Australian Securities & Investments Commission (ASIC) under licence number 516246.
· VT Global is not an issuer or market maker of derivatives and is only allowed to provide services to wholesale clients.
· VT Markets (Pty) Ltd is an authorised Financial Service Provider (FSP) registered and regulated by the Financial Sector Conduct Authority (FSCA) of South Africa under license number 50865.
· VT Markets Limited is an investment dealer authorised and regulated by the Mauritius Financial Services Commission (FSC) under license number GB23202269.
· VTMarkets Ltd, registered in the Republic of Cyprus with registration number HE436466 and registered address at Archbishop Makarios III, 160, Floor 1, 3026, Limassol, Cyprus.
Copyright © 2024 VT Markets.