Next week, I want to pay more attention to soybean.

For soybean, due to some timely rains in September that rescued the crop from the drought and extreme heat it suffered through during the summer, the analysts believed that the US soybean crop is bigger than previously forecast. This is a very important signal that the price of soybean may reduce next week.

The upcoming USDA report was expected to show that the crop weathered the adverse conditions better than the government had initially expected. The USDA’s monthly report was expected to forecast the US soybean crop at 2.759 billion bushels, based on the average of estimates in a Reuters survey of 26 analysts. The average yield was seen at 37.006 bushels per acre, up 4.8 percent from a month ago. A month ago, USDA pegged the soybean crop at 2.634 billion bushels, based on an average yield of 35.3 bushels per acre.

The USDA will release its October crop production and supply/demand reports at 7:30 a.m. CDT (1230 GMT) on Thursday. That means, the price of soybean will go down after the report is released. So, it will be a very good idea for me to go short on soybean next week. I’ll went short on Monday and I’m sure I can earn a lot on Friday.