December’s WASDE report has grain traders looking at South America for support in the soybean market.
Steve Freed with ADM Investor Services, and a frequent Market Day Report analyst, says some traders feel soybeans are supported because of higher U.S. soybean crush and less-than-ideal weather in Brazil. Weather changes there are expected to impact the crop’s growth.
Geopolitical events, like Argentina’s new president and expected policy changes, are also affecting them.
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