November soybeans were able to post an 11 1/2 cent gain today despite widespread pressure in grains as well as old crop beans. The May soybean contract has been experiencing higher then expected deliveries suggesting that near term price rationing may not be necessary for now. However new crop soybeans have begun to take on a life of their own as concerns over next years balance sheet continue. Huge corn acreage, as well as a record fast pace in planting suggest that we could be looking at very tight ending stocks for the 2012-2013 marketing year.
Wednesday, May 2, 2012
New Crop Soybeans Post a New High Close!
November soybeans were able to post an 11 1/2 cent gain today despite widespread pressure in grains as well as old crop beans. The May soybean contract has been experiencing higher then expected deliveries suggesting that near term price rationing may not be necessary for now. However new crop soybeans have begun to take on a life of their own as concerns over next years balance sheet continue. Huge corn acreage, as well as a record fast pace in planting suggest that we could be looking at very tight ending stocks for the 2012-2013 marketing year.
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