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Fontanelle, IA | If you believe USDA that US soybean yield was record high and global stocks are as large as they are based upon crap soybean crop from Arg, record large crop from Brazil, and remarkable large crop from USA, then no - $12 beans on CME are non warranted, non justified. $12 is false.
If tariffs have altered "where" supplies of beans are "demanded" - then basis reflects cash price. Hence, the premium in Brazil over CME and poorer basis levels in US than "normal" and significantly poorer basis levels in MN and Dakotas and areas feeding the PNW.
$12 is fundamentally and technically only a dream that significant narcotic and hallucinogenic drug interactions from a RAVE party could/can provide...…..
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Class 3 milk
