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Analyst Kevin Van Trump notes bulls expect USDA to trim its soybean yield forecast and tighten the balance sheet, while bears argue supplies remain ample. The November soybean contract has fallen below its 200-day moving average near $9.75 per bushel, and he sees prices rangebound between $9.20 and $10.20.
He also flags possible Argentine export tax cuts and South American weather risks.
Possible yield cuts and weather problems in South America support prices, while a cut in Argentina's export tax would add supply and weigh on prices.
farmprogress.comKevin Van TrumpOct 27, 2017Not 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.
