Soybeans Headed for Longest Weekly Losing Stretch Since 2006
Farmer Amie Laberge drives his combine through a field as he harvests soybeans November 17, 2023 in Charlotte, Vermont. Laberge sells his soybeans to a processor who crushes the beans for oil and as a high protein source of food. (Photo by Robert Nickelsberg/Getty Images)
Soybeans headed for an eighth straight week of losses, the longest stretch of declines since 2006, on an outlook for record global stockpiles and sluggish appetite for US exports.
The losing streak underscores how soybean traders have lacked any incentive to buy futures of the commodity used in everything from animal feed to truck diesel. Futures on Friday were poised for the lowest closing level since December 2020.
