Soybean Support: Traders are looking to South America for help in the market
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.