One of the good news items this fall has been the soybean story. Yields in Ontario this fall were outstanding, reaching record highs in some areas of the province while at the same time off combine prices reached seasonal highs. Demand is strong for soybeans from countries like China. Already everyone is speculating on the battle of acres between corn and soybeans. The other added issue is the addition in the last five years of hedge funds speculating on core commodities like soybeans. For many farmers (and analysts for that matter) this whole scenario is hard to decipher between all the data and constant information from around the globe.
Many farmers are wondering what happens next for soybeans through the winter. Recently the January future bumped off of 1348 and have found some resistance around 1200.
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