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Soybean Prices Dominated By Supply Uncertainty

ifr160715–159
Soybean Prices Dominated By Supply Uncertainty
Darrel Good, Agricultural Economist - University of IllinoisThe price of soybeans is being driving by supply side uncertainties. Todd Gleason has more on what farmers can expect.The new crop November soybean contract…
1:36 radio
1:44 radio self contained The new crop November soybean contract traded at the CME Group in Chicago reached its current contract high price of $11.86 a bushel about a month ago. This is $3.22 above the low made last November. University of Illinois agricultural economist Darrel Good says as is typically the case this time of year, price direction will now be mostly determined by the estimated size of the U.S. crop, with the pace of consumption playing a minor role.Good :14 …helped support the recent modest price rally.Quote Summary - Forecasts of an upcoming period of above normal temperatures in the U.S., a continuation of strong export sales, and a strong pace to the domestic crush have helped suppo…