Trump-Xi meeting talk complicates near-term soybean pricing
Soybean futures are modestly lower after testing recent highs, with commentary that the uptrend remains but the market is back to being overbought amid a record net long held by funds; near-term pricing outlook is described as tricky ahead of President Trump’s planned meeting.
Soybean futures were modestly lower after testing recent highs overnight. Doug Bergman of RCM Alternatives said in a note that the uptrend remains in place, but the market is back to being overbought. Near-term price action is tricky with funds holding a record net long and President Trump's planned meeting...