If the U.S.and China do come to an agreement on trade, the soybean market could react sharply higher. Zaner Group Ag Hedge Lead Ted Seifried says the corn market will also likely benefit. “With all of the talk of corn picking up four to five million acres from soybeans, this could change the course.” Seifried says basis relief will be the biggest question for soybeans. “It will be interesting to see how basis reacts to a 30 cent rally in soybeans, but with harvest getting coming to a close, farmers will hold onto their beans tighter. The improvement in basis will likely be slight.”
