The rainy season favors the Argentinian market as commercial buying props up soybeans. Crop futures are also looking agriculturally optimistic.
USDA remained confident with last month's quarterly grain stocks on a positive note. However, last week was different with soybeans and corn on a low.
The weather influences the fate of agriculture across America. While others remain barren, the continuous blizzard weighs down the Northern plains.
December is a make-or-break month for the soybean market.
Private production estimates for soybeans and soybean meal show promise.
If the recent trend continues with managed money trimming soybeans and adding to corn, the market spreads could quickly begin to narrow back to “more normal”...
The soybean market has truly been impressive and very hesitant to move lower in the face of such bearish fundamentals.