Analyst “Hopeful” Soybean Prices Could Turn Corner By Fall

June 27, 2018 02:49 PM
 
 

June 2018 has been one of the most volatile months in recent memory. Many analysts say 2017 saw record low volatility, and this month, we’re making up for it.

Most of the news came from China announcing they would move forward by placing $50 billion of tariffs on U.S. agricultural goods. As a result, soybean prices during last Tuesday’s trade dipped close to the low $8 per bushel range.

DuWayne Bosse, founder of Bolt Marketing, LLC., said this market volatility can’t be blamed on China and tariffs alone.

“We also got very good weather—we’re talking about rain in late June, early July,” he said on U.S. Farm Report. “Even if it’s too much, it’s not going to rebound this market.”

As far as downside risk for soybeans, Matt Bennett, owner of Bennett Consulting, doesn’t think there’s too much.

“It’s really hard to trade this soybean market,” he said. “I don’t have much experience in a trade war, so it’s pretty tough for me to tell you how much downside we have.”

Hear why Bosse said the threat of a tariff is worse than the actual tariff, why he lifted his hedges and Bennett’s advice to farmers who could be panic selling on U.S. Farm Report above.

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