{"id":15267,"date":"2024-10-07T06:09:40","date_gmt":"2024-10-07T06:09:40","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=15267"},"modified":"2024-10-07T06:09:40","modified_gmt":"2024-10-07T06:09:40","slug":"dollar-pressures-soybean-and-wheat-prices","status":"publish","type":"post","link":"https:\/\/www.global-vtrader.com\/en\/analysis\/dollar-pressures-soybean-and-wheat-prices\/","title":{"rendered":"Dollar Pressures Soybean and Wheat Prices"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Key Points<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Soybean prices fell 1% to $10.31, while wheat dropped 0.8% to $5.66.<\/li>\n\n\n\n<li>The stronger dollar and forecasts of record U.S. soybean and wheat supplies weigh on market sentiment.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-dots\" \/>\n\n\n\n<p class=\"wp-block-paragraph\">Soybean and wheat prices saw further declines on Monday, largely driven by the strength of the U.S. dollar, which has continued to make U.S. agricultural exports more expensive for global buyers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Soybeans<\/strong> ended the session at <strong>10.31<\/strong>, and <strong>wheat<\/strong> closed lower at <strong>5.66<\/strong>, with both commodities facing pressure from a rising U.S. dollar.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/wp-content\/uploads\/2024\/10\/WhatsApp-Image-2024-10-07-at-11.09.07-1024x445.jpeg\" alt=\"\" class=\"wp-image-15269\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><em>Picture: Soybean prices continue their downtrend as global demand weakens, as seen on the <\/em><em><a href=\"https:\/\/vtmarketsapp.onelink.me\/CD7D\/240525WA\">VT Markets app.<\/a><\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Soybeans and wheat are also feeling the impact of record U.S. harvests this season. U.S. farmers are expected to harvest one of the largest soybean crops in recent years, while wheat supplies remain abundant.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Supply-Chain Affected Worldwide<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">This supply glut, coupled with dollar strength, is dampening demand for U.S. exports. Wheat prices are also influenced by persistent supply-chain risks in the <strong>Black Sea<\/strong> region and ongoing conflict in <strong>Ukraine<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.reuters.com\/markets\/commodities\/ukraine-farm-sector-indirect-losses-may-reach-83-bln-due-russian-invasion-2024-10-03\/\"><strong>Ukraine farm sector indirect losses may reach $83 bln due to Russian invasion, analysts say | Reuters<\/strong><\/a><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/wp-content\/uploads\/2024\/10\/WhatsApp-Image-2024-10-07-at-11.09.06-1024x445.jpeg\" alt=\"\" class=\"wp-image-15268\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><em>Picture: Wheat prices fall amid bearish momentum and strong U.S. Dollar, as seen on the <\/em><em><a href=\"https:\/\/vtmarketsapp.onelink.me\/CD7D\/240525WA\">VT Markets app.<\/a><\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Speculative traders have started to trim their short positions in both markets, indicating that some expect further downside but are cautious about any potential rebounds.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>You might also be interested in: <a href=\"https:\/\/www.vtmarkets.com\/analysis\/wheat-holds-steady-below-a-3-5-month-high-as-supply-risks-persist\/\">Wheat Holds Steady Below a 3.5-month High as Supply Risks Persist | VT Markets<\/a><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As U.S. farmers continue their harvests, soybean and wheat markets will remain sensitive to global demand shifts and further fluctuations in the U.S. dollar.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Watch for any shifts in demand, especially for exports, which could signal potential price rebounds or further declines.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Start trading now \u2014 click <\/strong><strong><a href=\"https:\/\/www.vtmarkets.com\/trade-now\/?utm_campaign=account_c&amp;utm_source=dma&amp;utm_medium=website\">here<\/a><\/strong><strong> to create your live VT Markets account.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Soybean and wheat prices continue to drop as the U.S. dollar strengthens, with forecasts of record U.S. crop supplies adding downside pressure. &#8211; vtmarkets.com <\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[27],"tags":[44,28],"class_list":["post-15267","post","type-post","status-publish","format-standard","hentry","category-analysis","tag-commodities","tag-dollar"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/posts\/15267","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/comments?post=15267"}],"version-history":[{"count":0,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/posts\/15267\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/media?parent=15267"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/categories?post=15267"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/tags?post=15267"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}