Front-month soybean futures on the Chicago Board of Trade surged past the $12.1 a bushel mark for the first time since August of 2014 due to prolonged dryness in key crop-growing regions of South America, coupled with strong demand from top importer China.
Historically, Soybeans reached an all time high of 1794.75 in September of 2012. Soybeans - data, forecasts, historical chart - was last updated on December of 2020.
Soybeans is expected to trade at 1186.33 USd/BU by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1096.83 in 12 months time.