Home > News > COVID-19 Vaccine News Buoys Soybean Prices

One hundred dollar bill with soybeansWorld markets took note of the announcement Monday that Pfizer is conducting promising late-stage trials on a COVID-19 vaccine, and that bullishness spilled into the grain trade. Hopes that an available vaccine soon can fuel an economic rebound from the pandemic drove some soybean futures contracts to their highest prices since July 2016, though gains were slim for corn and prices were slightly lower for wheat futures. Monday’s prices also reflect trade positioning ahead of Tuesday’s USDA Crop Production and WASDE reports that are expected to show slightly lower U.S. corn and soybean yields and continued export sales growth, especially for soybeans. This week’s news-driven pricing comes as USDA reported Monday just eight percent of soybean harvest and nine percent of corn harvest remaining as of Sunday. See more here.


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