Plenty of bullishness in the soybean market
Soybeans futures continue to move higher.
StoneX market analyst Arlan Suderman says there is plenty of bullish sentiment in the soybean market right now.
“As long as there are expectations that USDA’s ending stocks estimates are going to be declining, there are going to be those who feel like we need to take prices higher,” Sunderman says. “The real question is what surprises USDA may have in their January crop report—and right now the market is betting on bullish surprises.”
Suderman says the soybean market could be volatile over the next couple of weeks.
“It is holiday trading, so volume tends to drop off and become a little bit more erratic. When the remaining players in the trade line up on the same side, you can get some big moves.”