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An analyst says soybean prices remain well below production cost and that the market may follow a U-shaped rather than V-shaped recovery. Bears cite a large US acreage glut and USDA's ending-stocks estimate of 580 million bushels, while rumours of Chinese buying offer some support.
Large US stocks and damaged buyer sentiment point to sideways-to-lower soybean prices in the near term unless new export demand returns.
farmprogress.comKevin Van TrumpJul 18, 2018Not 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.
