CBoT soybean futures prices are falling this morning for the second trading day in a row on fears that demand for US agricultural commodities will weaken as political tensions in the Middle East escalate. This could also depress spot prices for all agricultural commodities.
Uncertainty over political developments in Iran and the resulting negative impact on the global economy will cause demand to fall, write agricultural market analysts in Australia this morning.
Last week, the US exported 332,047 tons of soybeans, less than the market had expected. According to the USDA, China bought 160,241 tons for delivery in the 2019/20 season and 132,000 tons previously booked for an unknown destination.
Source
HANSA Terminhandel
