USDA’s November crop production and supply and demand reports will be released on Tuesday. Zaner Ag Hedge Chief Market Strategist Ted Seifried thinks increased production numbers may already be built into the market. “I’m not exactly sure how much we’ve factored in when it comes to higher yields, but it seems like everyone knows there will be higher yields on the USDA balance sheet at some point, especially for the soybeans.” Seifried expects the soybean market to be volatile even after the November USDA report. “If it is a slightly bearish report, do we get a bullish reaction? Do we continue on with this idea of inflation and commodity prices going higher? We could still run out of soybeans if there’s an issue in South America.”
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