1254 days ago • Posted by Charles-Henry Monchau
Soybeans near $12 per bushel on CBOT yesterday, breaching a four-year high earlier this month
Soybean futures sold for around $11.69 per bushel on the Chicago Board of Trade yesterday, breaching a four-year high earlier this month. By comparison, CBoT soybean futures were trading around $9.40 per bushel when the U.S.-China Phase 1 trade deal was signed in mid-January. Moe Agostino, the chief commodity strategist with Farms.com Risk Management, said bullish price action had been the result of two factors: increased trade and weather events. "It started with better-than-expected demand, particularly from China as they bought soybeans because they needed them as part of the Phase 1 trade deal," he said. Source: www.zerohedge.com
