August is for Soybeans: Still Have Chance at Seeing $11
By Ashley Davenport, Farm Journal Broadcast, Multimedia Editor
via AgWeb - August 8, 2017
August is known for really making the soybean crop. Now that August is more than a week in, rain showers have been in the forecast coupled with cooler temperatures.
If these ideal conditions continue, Bryan Doherty, senior market advisor for Stewart-Peterson, says it boils down to two things.
“We’ve been trading around $10 in November soybeans, so that’s your pivot point,” he said. “Good weather can push you under that, bad weather can rapidly move above that. We’re looking better weather the end of August”
The heat dome that hit the Midwest has since been pushed out, which is where Doherty said the concern was with this forecast...
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