Last month, soybean futures were in the $10 per bushel range. Today, those prices are hovering near the $9 mark.
A fresh week means a fresh perspective, and hindsight from the week prior is 20/20.
“We’ve had so many opportunities to market this year at levels we didn’t really expect we were going to get,” said Matt Bennett, owner of Bennett Consulting. “This week has been a stark reminder for us that no matter how bullish you want to get, no matter how friendly you want to get, you never know what’s around the corner.”
DuWayne Bosse, founder of Bolt Marketing, LLC., echoed Bennett’s sentiment on AgDay, reiterating that tariffs are bad, and there’s a lot more volatility in the markets now compared to 2017.
“Remember these markets trade on emotions,” he said. “If you step back and look at the big fundamental picture, it’s not as bad as it really was this week.”
Hear why Bennett isn’t surprised soybeans didn’t see a steeper price decline and what Bosse is watching as the week unfolds on AgDay above.