Soybean Market Dynamics
The global soybean market is currently associated with high levels of uncertainty as low stock levels put production from the major soybean producers under constant scrutiny. Over the past seasons, the market was therefore highly responsive to weather developments in regions such as South America and the US were hot and dry weather prevailed. Prices continued to fluctuate at elevated levels on the back of a delay in US plantings and deterioration in US crop conditions. At the time of writing the US soybean crop was classified as 57% good-excellent from the 70% good-excellent rating at the begging of the season. This is shown in Figure 2.4.
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