SOYBEAN: Increased to a 4-week high of 1731 USd/Bu, amid lingering concerns over the supply.
Data showed Ukrainian grain exports in March were four times lower than in February as the war disrupted shipping from the Black Sea, pushing prices to levels not seen since September 2012.
Meanwhile, reports showed that early frosts in Argentina’s farming belt could cause further damage to the 2021/22 soybean crop.
Still, the USDA anticipated that farmers would plant the most acres of oilseed on record this spring, signaling a shift in acreage from corn to soybeans.
US 2022 soybean seedings will rise 4% from 2021 to 90.955 million acres.
