The soybean markets hit the $12 level on Thursday. “I haven’t seen much news other than lower export sales of soybeans,” said Ted Seifried, chief market strategist, Zaner Ag Hedge. “In my opinion, we only have about 150 million bushels left to sell on the export sales side of things. We are really running thin on what we’re able to sell without significant price rationing happening.” This could be the beginning of another leg higher in the soybeans. “It’s interesting this is happening going into the holiday trade, but one way or another, it feels like we have more upside potential in soybeans.”
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