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Ridgway, IL | Note the armada of soybeans on the way and arriving in/to china. Chinese trying to roll purchase back as the current supply is gluttonous.
I will agree that if there is summer business to be done the us is very competitive, however what's the volume of that gonna be between now and September? I don't know the answer, but the market has been positioned very short soybeans so there is potential for a slight pop in futures if the business comes.
Seems like it takes a pretty healthy amount of summer business to change carry out in a meaningful way, so the reaction could be muted either way.
Provided a normal growing season I think soybeans hold up better than corn though just because they're so heavily sold | |
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US Gulf Soybeans Cheaper then Brazil?!?
