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January 23, 2024 |
What happens if there's no soybean rally?
Agricultural markets have not been a fun topic over the last several months.
A year ago, we saw December 2023 futures just below $6 and November 2023 futures right around $13.60. Compare that to this year’s new crop prices of $4.75 and $11.90. Many farmers are sick and tired of seeing consecutive down days in the markets and have all but stopped paying attention to them.
We find several people stating there “has to be a bounce,” and they are willing to bet half of their old crop and all their new crop on it. What happens if there is no bounce? What happens if we are all just dead wrong?
