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DTN analyst Joel Karlin notes USDA's November WASDE shows 480 million bushels of U.S. soybean ending stocks, the highest November carryout since 2006/07, with a 11.7% stocks-to-use ratio. January soybeans were near $10.55 a bushel, more than $1.80 above a year earlier despite bearish fundamentals.
Price strength is coming from fund buying, strong China sales and soybean oil gains on biofuel targets rather than balance sheets, so prices look vulnerable if fund support fades. Buyers should expect volatility as the market reconciles a heavy supply picture with firm demand.
dtnpf.comJoel KarlinNov 30, 2016Not enough comparable past events yet for a historical read.
Not 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.
