UIUC Weekly Outlook: Soybean Export and Acreage Prospects Support Prices
Due to poor South American crop and expectations for fewer planted acres in the U.S. this year
March and November 2012 soybean futures have moved to the highest level since late October 2011. “Ongoing concerns about the South American crop should provide additional support, particularly if United States export activity remains strong. New crop prices may also strengthen due to concerns about reduced soybean acreage in the United States, but those concerns may not be well founded. A rebound in March and November futures might be limited to near the $13.00 area for now,” said Good.
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