Source: FARM POLICY NEWS, UNIV. OF ILLINOIS, 10/27/20


Soybean prices rose recently on the Chicago Mercantile Exchange, driven by the delay in planting the Brazilian crop, among other factors.  This situation should prolong Chinese demand for U.S. production and puts pressure on American stocks. Last Friday (October 23), soybean prices reached the highest level since January 2017 ($10.81 per bushel). Agência Estado Letícia Pakulski writer reported that China’s demand for U.S. soybeans, and the perception that the Asian country will need the U.S. to produce for longer after the delays in planting in Brazil, have supported futures prices.

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