Soybeans Hold Near 9-Week Low
Bullish strength: 45/100
- US soybean export inspections increased to 2.48 million metric tons from 2.07 million the previous week.
- A strong El Niño scenario could reduce Brazilian soybean output to 163.6 million metric tons versus 181.2 million under neutral conditions.
Bearish strength: 55/100
- Soybean futures remained near a nine-week low at around $12.30 per bushel.
- The US harvest reached 79% completion, ahead of the five-year average of 77%.
- A weaker Brazilian real could make Brazilian soybeans more competitive for overseas buyers.
This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.