Soybeans surpassed the $13/bushel mark on 1/11. Today, soybeans prices pushed through the $14/bushel handle very forcefully. Soybeans prices appear to be positioned to reach another all-time closing high today also, even though prices have retracted well from the highs reached earlier today and last night. The settlement price from last Friday is shown in this chart as the white dotted line at the bottom of the price graph at $13.73 6/8. Retracements of this magnitude are very common for the grains markets, but as this chart indicates, prices are still well above the closing settlement price from last week.
Tuesday, February 19, 2008
Surging Soybeans
