Soybeans Soar--But Is There More?
By Bryce Knorr, Farm Futures
Soybean futures are on a tear, rallying last week to the highest level in more than four years. Cash prices topping $10 a bushel give farmers the chance to sell their crop at a nice profit as the U.S. harvest wraps up.
Most of the market’s focus is on red-hot demand, thanks to aggressive buying from China as it tries to meet commitments under the Phase One trade deal. Over the next few weeks look for South American weather to take center stage as the rally tries to maintain its hyperbolic rise.