Continuing drought causes soybean prices to rise

In the US, the quality of soybeans has received a lower rating. The US Department of Agriculture (USDA) indicated that 51% of soybeans are in “good to excellent” condition (25 June reference date). A week earlier that was still 54%. It has been very dry for a long time in key US production regions, which has caused prices to rise in recent weeks. The US sells a large share of soybeans to the world market. In the 2022-2023 season, sales of soybeans were disappointing due to lower productio