Soybean Prices Rising Amid 'Rationing' Says Cargill Executive
By Bill Tomson, Agri Pulse
U.S. soybean future prices are on the rise amid continued Chinese demand and concerns of tight global supplies, putting markets in a “rationing” mode, according to a Cargill executive.
“I would think that we haven’t hit the top yet because of the question … of rationing,” says Joe Stone, Cargill’s head of corporate trading and executive vice president for the agricultural supply chain. “I think a function of the market today is to ration - that we’re probably going to have to go a little bit higher than we are today.”