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A University of Illinois farmdoc analysis says the two main drivers of soybean prices, China trade negotiations and the January USDA estimate of the 2019 crop, will carry into 2020. Nearby futures ranged between $8.70 and $9.40 since mid-September.
The author judges that the recent price rally is hard to sustain without supportive news.
Uncertainty over trade and the 2019 crop size leaves soybean prices range-bound with downside risk if the rally fades, affecting feed input budgets.
u.osu.eduruff.72 atDec 10, 2019Not enough comparable past events yet for a historical read.
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.
