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Corn and soybean markets showed a surprising spring rally in mid-April, with CBOT May soybeans closing at $9.56 a bushel on April 15, the highest nearby close in over seven months. Cash soybean prices in Southern Minnesota also rose sharply.
The rally came despite large projected 2015-16 ending stocks, driven by South American crop concerns, a possible U.S. summer drought and firmer export demand.
Concerns over South American crops and a possible U.S. drought are lifting soybean and corn prices, raising feed input costs for buyers. Large ending stocks limit how far the rally can extend.
minnstarbank.comNicole HinzApr 18, 2016Not 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.
