Though corn has gotten many of the latest headlines relating to bullish grain price movement, there’s a lot of upside potential unfolding in the soybean market right now. Domestic and global demand for U.S. soybeans remains in the stratosphere as supply concerns now have some market-watchers calling for demand rationing in the next few weeks. But that’s always a tough prospect, especially in the face of such bullish momentum from variables like a weak U.S. Dollar Index, Chinese soymeal demand and continued weather and logistical complications for Brazilian soybean farmers. Domestic fundamentals are playing into the equation; between drought conditions in much of the U.S. and speculation about soybean and corn planting intentions heading into spring will fuel a likely higher soybean market moving into the growing season. Take a deep dive into the soybean market factors.
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