Good harvest expectations weaken soybean prices

Soybean prices are under pressure, both in the short and longer term. The IGC price index, a measure of the price of soybeans in the world, fell to 299 points on Monday, February 27 (year 2000 = index 100). The trend for the soybean price has been declining since the end of February. Compared to a year ago, the price index is 9% lower. Brazil expects record harvest The pressure on prices is partly due to the fact that Brazil expects a record harvest and the Brazilian harvest is progressing.