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Soybean futures are recovering after a sharp early-July drop, with November contracts having fallen to near $8.25 before climbing back to $8.91 1/4 on July 30. DTN analyst Todd Hultman attributes the rebound to corrective buying after heavy bearish pressure from trade concerns and strong crop ratings, plus weather worries and expectations that China will return to the U.S. market in the September-February period.
A rebound from near-decade lows supports soybean and meal prices, but the outlook depends on whether China resumes purchases of U.S. beans during its seasonal buying window.
brownfieldagnews.comMark DorenkampJul 30, 2018Not enough comparable past events yet for a historical read.
Not 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.
