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WASHINGTON Global bumper crops of soybeans means soybean prices will drop to US$10 per bushel, forecasts the United States Department of Agriculture (USDA). The USDA reports that the United States has hit record export sales of soybeans after having a record harvest 18 per cent above the previous record while both Brazil and Argentina are expected to also have record yields this year. While soybeans peaked above $16 per bushel last year at the Chatham-Kent Elevator, the price had dropped below $10 late in the year. In December, the high was $11.78 and the low was $10.86. |
