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Purdue economists reviewed the soybean outlook after USDA's June WASDE, focusing on US crop condition ratings and dry weather. They also discussed soybean oil demand for renewable fuels, export competition from South America, and Ohio River basis.
Dry weather risk to yields and shifting demand from biofuels both affect the balance of soybean supply and demand, which keeps soybean price volatility elevated.
ag.purdue.eduSarah E ZahnJun 16, 2023After 324 past neutral weather events, Soybeans moved a median +0.0% over 5 sessions (52% higher; middle half -1.4% to +1.7%), and +0.7% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
