Due to the high soybean price, many farmers will choose to plant soybean, this means from 2012 to 2013, in the world market, the soybean production will be increase. In other hand, soybeans got a boost from data showing private sector factories in China were at their busiest in eight months in October. The data followed other signs in October of economic revival in the country and could signal stepped-up demand for soy. “The economic data was interpreted favorably, leading to some ideas that they are going to import more beans,” said Jerrod Kitt with the Linn Group, a Chicago brokerage. China’s soybean needs improving , farmers also intensify the soybean planting. So we must to know the proportion between expand grew and China’s expanding demand . From last week’s trend, I think soybean price will be decreasing this week.
References:
Hey girl, you cannot just focus on China. Remember that on Nov. 8th and No. 9th, the demand and supply report and updated crop estimates will be released. Hope we can take advantage of that.