Grain prices do not stop falling, and soybeans and corn reached three-year lows on the Chicago Market, losing around 10 percent so far in 2024. Soybeans, for example, went from USD 550 in January 2023 to USD 455 in the first month of this year in Chicago.
The dynamics of the international corn and soybean market are complex and the factors that explain the collapse are several: adjustments in the area and supply, lower Chinese demand, the rise of the dollar, the flight of funds and the evolution of the climate.