Soyabean prices risk an explosive surge this summer, says FT, as US stocks could be virtually exhausted before the arrival of the new crop in the autumn, due to production problems in Latin America and strong demand from China.
The price of soyabeans in Chicago has surged 40 per cent since the start of March, with the benchmark CBOT July contract pushing above the key $12 a bushel to an eight-month high of $12.27 a bushel this week
An ENSO is bad for S. American production and neutral to good for N. American production. Should draw down world supplies and allow the American farmer a nice year.
ReplyDelete