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Soybean futures rallied in August 2020 after a USDA world supply and demand report that was expected to be bearish. Soybeans closed above their March level of $9.125 per bushel on August 17, which the author reads as a turn in sentiment.
A rally despite higher US stock estimates suggests the market has already priced in the bearish news, which supports soybean and meal values. The move is sentiment-driven rather than a new supply shock.
seekingalpha.comRMB GroupAug 25, 2020Not 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.
