Analyst says soybean price jump driven by supply more than demand

Analyst says soybean price jump driven by supply more than demand

Analyst says soybean price jump driven by supply more than demand

Market analyst Clayton Pope takes issue with the contention that current higher soybean prices are demand driven. Pope concedes that USDA’s 75-million-bushel jump in soybean exports is significant for the market, but he says the August to November soybean supply dropped 346 million bushels.

“Calling this a demand market is a little bit of a misnomer, it seems like to me,” said Pope, speaking at the recent National Association of Farm Broadcasting virtual convention.