Join date: Feb 22, 2022

Soybean Market prices reached the highest level since 2012 during 2021 on the continuation of a steep surge started in mid-2020. Prices remained on a steep upward trend during the first half of 2021 supported by successive downgrades of US ending stocks as per the USDA Wasde reports. This was underpinned both by reductions of US production estimates since the end of 2020 and by higher exports, partially driven by a late harvest in Brazil that widened the US export window. Since the second quarter of 2020, soybean prices have also been underpinned by the monetary policies championed by the US Federal Reserve and other central banks around the world to counter the economic shock linked to the outbreak of the Covid-19 pandemic.

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