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.
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