Severe drought cut production

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Reference no: EM13996210

U.S. soybean supplies have been tight since last year's severe drought cut production. Many farmers held some of last year's soybeans in storage, waiting to see if they could sell them at a higher price this summer, when supplies are tightest before the next harvest. This week, many of those farmers decided it was time to sell. Weather conditions for this year's U.S. crop are mostly favorable, which means a large harvest this fall could push prices lower. Historically high cash prices for soybeans early this week also lured farmers to start selling. The result has been a collapse in cash markets over the past two days. Show the effects of the changes in the last two days.

Reference no: EM13996210

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