Mon Mar 31 10:50:00 UTC 2025: ## Soybean Futures Hold Near One-Month High Ahead of Key USDA Report
**Chicago, IL – March 30, 2024** – Soybean futures traded slightly above $10 per bushel on Thursday, remaining near a one-month high of nearly $10.20 reached on March 27th. Market anticipation is building ahead of the U.S. Department of Agriculture’s (USDA) crucial reports on prospective plantings and quarterly grain stocks, scheduled for release on Friday, March 31st.
Analysts predict the USDA will lower its forecast for planted soybean acres in the U.S. This expectation, combined with other market factors, is contributing to the price stability. Meanwhile, positive news emerged from Brazil, where the Brazilian Association of Vegetable Oil Industries (Abiove) raised its forecast for the 2024/25 soybean harvest to 170.9 million tons, a significant increase compared to the current crop.
However, recent export data from the USDA showed a decline in soybean sales to overseas buyers. The week ending March 20th saw sales of 338,500 tons, a 4% decrease week-over-week and a 28% drop from the four-week average. This dip in export demand may offset some of the upward pressure on prices. The upcoming USDA reports are expected to provide clarity on the overall market outlook for soybeans.
First Piper 